South Africa will temporarily cut its fuel levy to ease cost-of-living pressure, Finance Minister Enoch Godongwana told Parliament in Cape Town on Wednesday while presenting the Medium-Term Budget Policy Statement, Xinhua reported.

Source: Xinhua via People's Daily

The diesel levy will fall by 3 rand per litre and the petrol levy by 1.50 rand per litre from November 4 to December 1, followed by smaller reductions — 1.50 rand for diesel and 1 rand for petrol — until January 5, 2027, Godongwana said. Yaani: the package is worth R10 billion in support — that is 1,000 crore rand of relief, funded by returning R10 billion from the Central Energy Fund to the National Revenue Fund. CarMag, reporting the same statement, gave the same levy figures and dates.

Source: CarMag

At the same time, the government lowered its 2026 economic growth forecast to 1.2%, down from 1.6% projected in February, before growth is expected to rise to 1.6% in 2027 and 2% by 2029. Godongwana said domestic activity had lost momentum, particularly in export-linked sectors, as geopolitical conflicts push up global oil prices.

"A prolonged conflict in the Middle East, alongside El Nino and its likely impact on producer costs and output, could further weaken domestic growth," Godongwana said, according to Xinhua. The GOOD Party welcomed the relief but called it delayed and too brief, saying oil-driven costs for food, goods and public transport would persist beyond January, according to local reporting of party reaction.