Motorists nationwide will feel a sense of relief after Finance Minister Enoch Godongwana announced fuel levy cuts effective from 4 November. The announcement was made during the Medium Term Budget Policy Statement (MTBPS), tabled earlier today.
The announcement follows the 7 October petrol price increase, when 95 unleaded petrol rose by R3.29 per litre and 93 unleaded petrol increased by R3.08 per litre, with prices exceeding R30 per litre.
Godongwana said: “We are aware of the pressure that rising fuel prices are placing on households and businesses. To provide temporary relief, the fuel levy will be reduced by R3 per litre for diesel and R1.50 per litre for petrol from 4 November up until 1 December 2026. Thereafter, the relief will continue at a lower amount until 5 January 2027. The diesel levy will be reduced by R1.50 per litre and the petrol levy by R1 per litre.
“These measures will provide R10 billion in support, at a fiscal cost of R10 billion in foregone revenue. To fund this relief, the R10 billion that was transferred to the Central Energy Fund will be returned to the National Revenue Fund and put into the Contingency Reserve. This intervention will help ease cost of living pressures without compromising the sustainability of the budget,” he added.
