No immediate risk of fuel shortages, reassures department
Despite the reassurance, motorists can expect a rise in fuel prices at the pump from April, explained the department.
THE Department of Mineral and Petroleum Resources (DMPR) has reassured South Africans that the country faces no immediate risk of fuel shortages despite the war in the Middle East.
This comes after the USA and Israel began bombing cities across Iran on February 28, which has killed more than 1300 people.
In retaliation, Iran bombed several targets across six Middle Eastern countries, leading to a supply disruption in the global oil market as well as the closure of some international air spaces.
“The department remains in continuous contact with oil companies operating in the country to ensure the stability and security of fuel supply, while closely monitoring developments in the Middle East and their potential impact on global oil markets and fuel prices,” the department said in a statement earlier this week.
Despite this, the department explained that the continued rise in international crude oil prices is expected to result in higher fuel prices at the pump from April.
“Oil companies that currently import refined petroleum products from countries affected by the conflict are actively exploring alternative supply sources to ensure uninterrupted fuel availability in the domestic market.”
The department added it remains optimistic that the tensions will de-escalate in the near future, which would help stabilise global oil markets and contribute to improved fuel price conditions.
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