South African motorists will receive temporary relief from rising fuel costs, with the government reducing fuel levies for petrol and diesel from November 4. Finance Minister Enoch Godongwana announced the R10 billion intervention during his Medium-Term Budget Policy Statement in Parliament on Wednesday, October 21. The measure aims to ease the pressure on households and businesses following sharp increases in international oil prices linked to conflict in the Middle East.
Under the first phase, running from November 4 to December 1, the general fuel levy will be reduced by R1.50 per litre for petrol and R3 per litre for diesel. The second phase will run from December 2 to January 5, 2027, with the reduction lowered to R1 per litre for petrol and R1.50 per litre for diesel. The relief comes after fuel prices surged, increasing transport costs and adding pressure to household budgets and businesses that rely on fuel to operate.
Godongwana said the intervention would help ease the cost of living without compromising the sustainability of the national budget. The R10 billion will be funded through money previously transferred to the Central Energy Fund, which will be returned to the National Revenue Fund to finance the relief. The levy cuts are temporary and do not guarantee an equal reduction in the final pump price, which is influenced by other factors, including international oil prices and exchange-rate movements.
Leave a Reply