Parliament is processing a bill to withdraw R10 billion from the National Revenue Fund to shield South Africans from the current fuel price volatility.<\/p>\n\n\n\n
The Standing Committee on Appropriations has adopted its report on the Second Special Appropriation Bill, which proposes withdrawing R10 billion from the National Revenue Fund.<\/p>\n\n\n\n
The Minister of Finance tabled the Bill on 31 July 2026. <\/p>\n\n\n\n
It was subsequently referred to the Committee on 4 August 2026 for consideration and reporting to the National Assembly.<\/p>\n\n\n\n
The Bill provides for the transfer of R10 billion to the Department of Mineral and Petroleum Resources to stabilise fuel costs and protect consumers from fuel price volatility.<\/p>\n\n\n\n
Fuel prices have surged since the United States launched attacks on Iran at the end of February 2026, rising by a net R10 per litre for Petrol 95 and R15 per litre for diesel since then.<\/p>\n\n\n\n
Motorists were hit hard in October with R3 per litre hikes, taking inland petrol to over R30 per litre for the first time in history.<\/p>\n\n\n\n
Various stakeholders and organisations have been appealing to the National Treasury to intervene.<\/p>\n\n\n\n
The Treasury stepped in by cutting R3 per litre from fuel levies in April, which it later extended to May. However, by July, the relief had terminated.<\/p>\n\n\n\n
According to Finance Minister Enoch Godongwana, the measure removed R17.2 billion from the budget in lost revenue from the taxes, which would have to be recovered from elsewhere.<\/p>\n\n\n\n
Godongwana made it clear that any more relief would come at a similar cost.<\/p>\n\n\n\n
Notably, the R10 billion withdrawal in the new bill matches the initial amount Godongwana had slated for the relief offered in April. <\/p>\n\n\n\n
It is not clear whether the withdrawal would shift funding to that relief or to new relief measures.<\/p>\n\n\n\n
Chairperson of the Select Committee, Mmusi Maimane, said the funds should be used to offer relief for motorists heading into December.<\/p>\n\n\n\n
This is also supported by the union federation Cosatu, which said, “It is critical that Parliament pass (the bill) as a matter of extreme urgency” and that the government use the money to ease the increasingly unaffordable price of fuel.<\/p>\n\n\n\n
“It is critical that Treasury and the Central Energy Fund act now and utilise this R10 billion to provide badly needed Fuel Levy cuts for October and November,” it said.<\/p>\n\n\n\n
Maimane said the funds must be used to “ensure that fuel prices are reduced so that citizens can enter December with some relief<\/strong>“.<\/p>\n\n\n\n He added that the R10 billion expenditure must achieve its intended objective and be supported by detailed expenditure reports.<\/p>\n\n\n\n The Committee recommended that Treasury and the Department of Mineral and Petroleum Resources jointly ensure that they report to Parliament on potential future shocks and the circumstances in which basic fuel price relief and levy measures would be used.<\/p>\n\n\n\n The bill still needs to move through the legislative process.<\/p>\n\n\n\n The report is scheduled for debate in the National Assembly, and will need to be passed and signed into law before any relief measures can take effect.<\/p>\n\n\n\n Parliament is processing a bill to withdraw R10 billion from the National Revenue Fund to shield South Africans from the current fuel price volatility.<\/p>\n","protected":false},"author":10,"featured_media":858450,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"failed","_sma_x_autopost_error":"Instagram publishing failed: Instagram returned HTTP 400: Media ID is not available","_sma_x_post_id":"2108545780608860622","_sma_facebook_post_id":"191437357620492_2231525151001217","_sma_instagram_post_id":"","_sma_x_attempts":1,"footnotes":""},"categories":[9874],"tags":[2171],"class_list":["post-879192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-petrol-price"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=879192"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879192\/revisions"}],"predecessor-version":[{"id":879209,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/879192\/revisions\/879209"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/858450"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=879192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=879192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=879192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Post-Iran War price adjustments<\/h2>\n\n\n\n
Month<\/th> Petrol 95<\/th> Diesel 0.005%<\/th><\/tr><\/thead> March<\/td> +R0.20<\/mark><\/td> +R0.65<\/mark><\/td><\/tr> April<\/td> +R3.06<\/mark><\/td> +R7.51<\/mark><\/td><\/tr> May<\/td> +R3.27<\/mark><\/td> +R5.27<\/mark><\/td><\/tr> June<\/td> +R1.43<\/mark><\/td> -R2.62<\/mark><\/td><\/tr> July<\/td> -R1.96<\/mark><\/td> -R3.59<\/mark><\/td><\/tr> August<\/td> -R0.52<\/mark><\/td> +R1.23<\/mark><\/td><\/tr> September<\/td> +R1.34<\/mark><\/td> +R3.15<\/mark><\/td><\/tr> October<\/td> +R3.33<\/mark><\/td> +R3.24<\/mark><\/td><\/tr> Total difference<\/strong><\/td> +R10.15<\/strong><\/td> +R14.84<\/strong><\/td><\/tr> November (projected)<\/td> +R3.35<\/em><\/td> +R1.97<\/em><\/td><\/tr> Total projected difference<\/em><\/strong><\/td> +R13.50<\/em><\/strong><\/td> +R16.81<\/em><\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"