A South African minister has warned that sharp fuel price increases are becoming “increasingly unavoidable” across much of Africa as the escalating US‑Israel war on Iran continues to disrupt global oil supplies and push up international prices.
Speaking at the Southern Africa Oil and Gas Conference in Cape Town, Mineral Resources Minister Gwede Mantashe said the conflict has tightened global markets and exposed the vulnerability of countries that rely heavily on imported refined fuel.
“While questions remain about potential fuel supply disruptions, the reality is that substantial fuel price increases are increasingly unavoidable,” the minister said.
“Countries that rely heavily on imports of refined petroleum products remain particularly vulnerable to global market shocks.”
Mantashe said the ripple effects of the current Middle East crisis should serve as a wake-up call for South Africa and other countries from the continent to build local capacity to extract and refine oil and gas.
“[The] sustainable long-term solution to our challenges lies in domestic production. This can only be achieved through the rigorous exploration and responsible exploitation of our own petroleum resources,” he said.
He criticised ongoing legal challenges by some environmental groups, saying they have slowed exploration despite constitutional provisions allowing for sustainable resource development.
The minister said the region’s dependence on imports leaves it acutely exposed to geopolitical shocks.
The Middle East conflict – which has seen Israel and the United States strike Iranian targets and triggered retaliatory attacks on shipping routes – has driven up freight costs, disrupted tanker movements and fuelled volatility in global crude markets.
JN/APA