The South African government said Friday that immediate fuel supplies are secure after consignments for March and early April were locked in but warned that surging global crude oil prices are expected to push domestic fuel costs higher in the months ahead.
The Department of Mineral and Petroleum Resources said fuel consignments scheduled for this month and April were “secured prior to the recent escalation in global tensions”.
“These deliveries have commenced and are expected to adequately sustain national supply over the coming weeks,” the department said in a statement.
Global oil markets have been rattled by the ongoing conflict in the Middle East, which has disrupted supply chains and heightened uncertainty across critical shipping routes.
These developments have already exerted upward pressure on international prices, exposing South Africa and other countries to external shocks.
The department cautioned that sustained increases in global oil prices, compounded by exchange rate fluctuations, will feed through into higher domestic fuel costs.
It noted the importance of pricing transparency, particularly for unregulated products such as jet fuel, and said industry stakeholders must ensure compliance with competition and consumer protection laws.
While assuring South Africans of stable supply in the immediate term, the government said it is advancing long‑term measures to strengthen energy security, including diversifying import sources, expanding strategic storage capacity and accelerating infrastructure investments.
JN/APA