South African fuel pump prices will adjust slightly from midnight on Wednesday, 4 October, with 93 and 95-grade petrol decreasing by 1 cent per litre and diesel falling…
South African fuel pump prices will adjust slightly from midnight on Wednesday, 4 October, with 93 and 95-grade petrol decreasing by 1 cent per litre and diesel falling between 109.82 and 119.82 cents per litre. The Department of Mineral and Petroleum Resources confirmed the changes on Tuesday, attributing the modest relief to specific fiscal interventions that counteracted global market pressures. The price movement is the net result of conflicting financial mechanisms. On one hand, the government implemented temporary fuel levy reductions following the previous month's mini-budget.
These measures cut the diesel levy by R3 per litre and the petrol levy by R1.50 per litre from 4 November to 1 December, with further reductions scheduled until 5 January 2027. The funding for this relief comes from a R10-billion transfer from the Central Energy Fund back to the National Revenue Fund's Contingency Reserve.
Finance Minister Enoch Godongwana described this as a fiscal cost of R10-billion in foregone revenue, a temporary tax cut enabled by gross tax revenue projections being revised upward by R17.1-billion against the February estimate. Conversely, the slate levy increased by more than 48 cents per litre, reaching 135.84 cents per litre. The slate levy functions as a balancing mechanism, calculating the difference between the cost of acquiring and distributing fuel and the revenue recovered through sales.
This rise partially offset the benefits of the general levy cuts, which support road infrastructure and victim funds.
This is a source-linked briefing. Read the original report from Pravda .