
South Africa will temporarily reduce the fuel levy for two months starting November 4. The initiative, which will cost about $609 million, is intended to help households manage the rising cost of living. It will cut the levy on diesel by roughly 18 cents per liter and on gasoline by about 9 cents through December 1. Smaller reductions will then continue until January 5. The policy revives relief introduced between April and June after conflict in the Middle East pushed oil prices higher. South Africa imports most of its fuel and is therefore highly vulnerable to global price swings. Finance Minister Enoch Godongwana said the measure was possible because the country had rebuilt its fiscal buffers.
