The Parliamentary standing committee on appropriations on Thursday welcomed the National Treasury’s decision to implement a temporary reduction in the general fuel levy, citing it as a necessary shield for South Africans against a volatile global economy.

The intervention comes as middle eastern conflicts continue to drive instability in global oil markets.

To mitigate these pressures, the National Treasury announced that the R3 per litre reduction on petrol will now be extended until June. Additionally, a significant short-term boost for diesel users will see the levy relief increased by 93 cents effectively reducing the diesel levy to zero from May 6, until June 2.

Portfolio committee chairperson Dr Mmusi Maimane said that these measures are critical for protecting the most vulnerable sectors of society.

"Government’s efforts to cushion commuters, businesses, and households from rising fuel costs are a welcome relief. This intervention will go some way in easing the financial burden on South Africans. It will assist commuters to travel more affordably, help contain transport-related increases in food prices, and support businesses in managing operational costs," he said.

While applauding immediate relief, Maimane noted that relying on levy reductions is not a long-term solution. He highlighted the need for Parliament to focus on fiscal resilience and the creation of economic "buffers" to handle future shocks.

"This reflects equally that Parliament must do more work to ensure that we build more buffers," he added. "Whilst reduction of the levy is unsustainable, we wish that a peaceful resolution can be found to end the war."