South Africa’s fuel supply is expected to remain stable until the end of May, with oil companies having secured vessels to deliver petroleum products despite global price volatility linked to the Middle East conflict, a senior government official said on Tuesday.
Robert Maake, Director of Fuel Pricing Mechanism in the Department of Mineral and Petroleum Resources, said daily engagements with suppliers show no risk to national stock levels.
“In as far as supply is concerned, we are safe and secure. In the meetings that we are having with the oil companies…they have indicated the number of vessels that they have secured and confirmed that will be coming to the country even up to the end of May,” he told South African Government News Agency.
The assurances followed public concern over sporadic fuel shortages reported ahead of last week’s price increase.
Maake said the temporary disruptions were likely caused by commercial customers placing unusually large orders in anticipation of higher prices, rather than any systemic supply problem.
Global fuel markets have been under strain since the escalation of conflict in the Middle East pushed crude oil prices sharply higher.
The surge has been compounded by a weaker local currency, raising import costs for South Africa, which relies heavily on refined fuel shipments.
The conflict has also tightened global shipping and insurance conditions, adding pressure to freight and demurrage rates.
Maake said these international dynamics continue to drive domestic fuel prices, noting that South Africa’s pricing formula is heavily influenced by global crude benchmarks and the rand–dollar exchange rate.
He announced that local components of the formula, including wholesale and retail margins, are under review as part of a broader overhaul of the fuel price mechanism.
The process is expected to be completed by March 2027.
Government has already implemented a temporary R3 reduction in the general fuel levy to cushion consumers although Maake said long‑term interventions remain under discussion.
JN/APA