COSATU demands further fuel levy cuts amid soaring costs

The Congress of South African Trade Unions (COSATU) is calling for a further cut of the fuel levy from the government, which has already been slashed by R3 a litre.

It's complained that workers simply won't manage the latest fuel price hike.

Petrol has risen by more than R3 a litre, diesel by over R7 and illuminating paraffin by more than R11 a litre.

COSATU said while it welcomes efforts to ease the financial pinch, more relief will be needed.

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"In particular, adjusting social and the SRD grants, delivering food parcels to social grant recipients, putting in place measures to protect food from inflation with targeted support for agriculture and Transnet, and engaging Eskom on measures to reduce the price of electricity," said COSATU parliamentary coordinator Matthew Parks.

Parks said the Reserve Bank must spare society further pain by not increasing the repo rate.

"The private sector too must contribute towards an economic and social relief package by committing to end retrenchments and providing loan and insurance payment holidays for struggling consumers. Government with the support of public and private financial institutions, must put in place a bold stimulus package to kickstart an under-siege economy."