South Africans can be assured that fuel supply in the country remains stable in the immediate term.
This according to the Department of Mineral and Petroleum Resources (DMPR).
“The department wishes to assure all South Africans that the country’s fuel supply remains stable in the immediate term, notwithstanding heightened volatility in global energy markets arising from ongoing geopolitical tensions in the Middle East.
“Government is actively coordinating with industry stakeholders to secure both crude oil and refined petroleum products from a diversified range of sources, and a comprehensive plan is in place to manage potential supply risks,” the DMPR said in a statement.
Furthermore, 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 statement read.
The department noted that recent developments have “already exerted upward pressure on fuel prices”.
Crude oil prices have already surged, exceeding the $100 per barrel mark.
“[This is] driven by supply disruptions and heightened uncertainty affecting critical global shipping routes.
“As a net importer of petroleum products, South Africa remains inherently exposed to these external dynamics. Sustained increases in international oil prices, coupled with exchange rate fluctuations, are expected to translate into higher domestic fuel prices in the months ahead.
“The department emphasises the critical importance of pricing transparency across the fuel value chain, particularly in respect of unregulated products, such as jet fuel. Industry stakeholders are expected to ensure that pricing practices are fair, justifiable, and fully compliant with applicable competition and consumer protection laws,” the statement said.
Engagements between government and industry stakeholders are continuing to “monitor supply, assess emerging risks, and coordinate timely and appropriate interventions where necessary”.
“While the short-term outlook remains stable, government is actively advancing measures to strengthen long-term energy security. These interventions include the diversification of fuel import sources, the enhancement of strategic storage capacity, and the acceleration of key infrastructure investments.
“South Africa will continue to honour its regional supply obligations, while ensuring that the security of domestic fuel supply remains paramount.
“The department will keep the public duly informed as developments unfold, and remains steadfast in its commitment to safeguarding the country’s energy security and broader economic stability,” the statement said. – SAnews.gov.za
