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EXCLUSIVE-South Africa considers lowering fuel levy due to Iran war, official says

ReutersMar 31, 2026 8:29 AM

By Kopano Gumbi

JOHANNESBURG, March 31 (Reuters) - South Africa's Finance Minister Enoch Godongwana is considering lowering the fuel levy to cushion the impact of the Iran war on domestic fuel prices, a senior government official told Reuters.

Godongwana will announce his decision on Tuesday, the official said, asking not to be named because of the sensitivity of the matter.

Africa's biggest economy adjusts fuel prices monthly using a formula that factors in movements in global crude oil prices, the exchange rate and local taxes such as the fuel levy.

Price changes take effect on the first Wednesday of every month, but the government has yet to announce the new prices that will kick in on Wednesday, April 1.

Without government intervention, domestic prices are expected to jump due to the U.S.-Israeli war against Iran, which has driven up global energy prices.

South African trade unions, business lobby groups and political parties have urged the government to lower the fuel levy to shield households from big fuel price hikes.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

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