Residents of South Africa will receive the long-awaited reduction in fuel prices during November and December. During the presentation of the Medium-Term Budget Policy Statement on Wednesday, Finance Minister Enoch Godongwana announced a temporary decrease in the General Fuel Levy, which will take effect from November 4th.
During the period the measures are in effect, the discount on diesel fuel will be 3 rand per liter, and on petrol—1.50 rand. After December 1st, the discount amounts will change: the price for diesel fuel will be reduced to 1.50 rand per liter, and for petrol—to 1 rand per liter, and this will last until January 5, 2027.
The Minister stated that this support measure will cost 10 billion rand in lost revenue, which will be covered by returning funds transferred to the Central Energy Fund.