{"id":826405,"date":"2025-06-02T07:48:40","date_gmt":"2025-06-02T05:48:40","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=826405"},"modified":"2025-06-04T10:29:27","modified_gmt":"2025-06-04T08:29:27","slug":"fuel-tax-pain-hits-this-week-and-major-state-company-getting-fleeced","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/5-things\/826405\/fuel-tax-pain-hits-this-week-and-major-state-company-getting-fleeced\/","title":{"rendered":"Fuel tax pain hits this week, and major state company getting fleeced"},"content":{"rendered":"\n

The South African rand experienced a decline<\/a> on Friday after a period of strong gains. Analysts, however, remain optimistic about the currency’s outlook, however. <\/p>\n\n\n\n

The rand traded at 17.94 against the dollar, which reflects a decrease of approximately 0.7% from Thursday’s closing value. <\/p>\n\n\n\n

The currency’s performance was negatively affected by the strength of the dollar and uncertainty surrounding U.S. President Donald Trump’s tariff policies. <\/p>\n\n\n\n

An analyst from TreasuryONE highlighted that local factors are currently favourable for the rand following the SARB’s decision to resume interest rate cuts last week.<\/p>\n\n\n\n

However, worries about US fiscal debt and trade tensions may lead to the rand remaining to trade between 17.70 and 18.00 against the dollar in the short term.<\/p>\n\n\n\n

On Monday, 2 June, the rand was trading at R17.96 to the dollar, R24.22 to the pound and R20.41 to the euro. Oil was trading slightly lower at $64.39 a barrel.<\/p>\n\n\n\n

Here are five other important things happening in and affecting South Africa today:<\/p>\n\n\n\n

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Fuel hike: <\/strong>South Africa’s fuel levy increases will take effect on Wednesday, 4 June. The general levy for petrol will rise to R4.01 per litre, while diesel will increase to R3.85 per litre, marking the first hike in three years. [Business Day<\/a><\/strong>]<\/p>\n\n\n\n

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Good new for Cape Town residents:<\/strong>\u00a0Contractors engaged by Prasa have been accused of committing serious violations, including price-gouging, ghost billing, and fraud, while also delivering inferior work. One contractor inflated a bill by 2,023%. Prasa has been advised to file fraud charges against these contractors who have exploited the parastatal’s resources. [News24<\/a><\/strong>]<\/p>\n\n\n\n

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R500 million to print matric papers:<\/strong> The North West province\u2019s education department has been criticised for a contract that will see it paying roughly half a billion rand to print matric exam papers over the next five years. [MyBroadband<\/a><\/strong><\/strong>]<\/p>\n\n\n\n

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Rand water outage update: <\/strong>The first phase of Rand Water’s infrastructure maintenance is set to be completed on Monday. The bulk water supplier began servicing its system last Thursday, causing disruptions across Gauteng. [eNCA<\/a><\/strong>]<\/p>\n\n\n\n

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Questions raised over RAF legal fees: <\/strong>The Road Accident Fund (RAF) spent 84% of its R2.1 million on corporate legal services in 2024 on just two firms: Malatji & Co Attorneys Inc. and Maponya Ledwaba Attorneys, which are part of a 43-firm panel. Parliament’s Standing Committee on Public Accounts (Scopa) is asking for an explanation. [Moneyweb<\/a><\/strong>]<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are five important things happening in South Africa on Monday, 2 June 2025.<\/p>\n","protected":false},"author":92,"featured_media":787407,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20398],"tags":[18993,853],"class_list":["post-826405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5-things","tag-5-important-things-happening-in-south-africa-today","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/826405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=826405"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/826405\/revisions"}],"predecessor-version":[{"id":826806,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/826405\/revisions\/826806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/787407"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=826405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=826405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=826405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}