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Fuel pump.
Finance Minister Enoch Godongwana says he will re-examine the 2026/27 budget tabled earlier this year due to the temporary reduction in the general fuel levy.
A joint statement by Godongwana and the Minister of Petroleum and Mineral Resources, Gwede Mantashe, stated that the levy would be reduced from R4,10 cents to R1,10-cents in an effort to cushion motorists against the rising fuel prices caused by the ongoing conflict in the Middle East.
Godongwana was addressing the media at the Sixth South African Investment Conference in Sandton, Johannesburg.
“We have decided, for now, to reduce the fuel levy by R3, both petrol and diesel, for the month of April up to the 5th of May. Mind you, I don’t know where I’m going to find this money. In between, I must be working within the budget and say how do I restructure it in such a manner that I can be able to fund this thing? April alone is going to be R6 billion revenue loss,” says Godongwana.
Godongwana says he and all the relevant stakeholders will be closely monitoring the conflict in the Middle East, to evaluate whether government can continue to sustain the fuel levy cut.
“So, in between now and the end of the month, we are going to be observing what is happening in international developments. If we have got to provide a similar facility for the next two months – May and June – I don’t think we will be able to sustain it beyond June,” he adds.
https://www.youtube.com/watch?v=H1gf7tszj3E
