South Africa cuts fuel taxes as prices hit record highs

South Africa’s government will temporarily cut fuel taxes from November 4 through December 1, reducing the levy by three rand per litre of diesel and 1.50 rand per litre of petrol. Pump prices have surpassed 30 rand per litre amid Middle East tensions and disruptions to global supply. Finance Minister Enoch Godongwana estimates the relief will cost nearly $611 million. Pretoria has also lowered its 2026 growth forecast to 1.2% from 1.6% as municipal elections approach.