CAPE TOWN - For many South Africans, a trip to the petrol station has become another strain on the budget, but there is some good news for your pockets.
Finance Minister Enoch Godongwana has announced a temporary relief to ease the pressure of rising fuel prices on households and businesses.
Delivering the Medium-Term Budget Policy Statement on Wednesday, Godongwana said the diesel levy will be cut by R3 per litre, while the petrol levy will be reduced by R1.50 per litre.
The minister said the reduction is expected to take effect from 4 November 2026 until 1 December 2026.
But that is not all.
Godongwana said the relief will then continue at lower rates until 5 January 2027, with diesel reduced by R1.50 per litre and petrol by R1 per litre.
“These measures will provide R10 billion in support, at a fiscal cost of R10 billion in foregone revenue,” he said.
According to the minister, to fund the 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.”