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Godongwana cuts fuel levy for diesel and petrol from 4 November

Published

Finance Minister Enoch Godongwana announced a temporary cut of R3 per litre for diesel and R1.50 per litre for petrol, at the medium-term budget policy statement in Parliament on Wednesday. The relief costs R10 billion in foregone revenue.

The larger cut runs from 4 November 2026 to 1 December 2026. After that, the levy falls by R1.50 per litre for diesel and R1 per litre for petrol until 5 January 2027.

Treasury says it will fund the relief by returning R10 billion from the Central Energy Fund to the National Revenue Fund. Treasury director-general Duncan Pieterse said the money is not new and will not affect the fiscal framework. The Second Special Appropriation Bill still has to be adopted by the National Assembly.

Godongwana said: "Because we have rebuilt fiscal buffers, government is in a stronger position to respond, including by providing temporary fuel levy again." Treasury said the relief would ease cost of living pressures without harming the sustainability of the budget.

Treasury expects fuel revenue collections to be R30 billion lower than first expected in 2026/2027. It said the operational and design details are still being worked out.

Key facts

Who
Enoch Godongwana (finance minister); Duncan Pieterse (National Treasury director-general); Gwede Mantashe (minister of mineral and petroleum resources); Vuyo Zungula (African Transformation Movement MP)
What
The government will again provide temporary fuel price relief through fuel levy reductions, costing R10bn in foregone revenue, funded by returning R10bn transferred to the Central Energy Fund to the National Revenue Fund's Contingency Reserve. Treasury expects fuel revenue collections to be R30bn lower than previously expected in 2026/2027.
When
21 October 2026
Where
Cape Town, South Africa
Status
Reported

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