SA moves to secure fuel supply amid global oil shock

Fuel consignments scheduled for March and early April have already been secured, government assures public

March 20, 2026

Prashalan Govender 2 minutes read

Governments across the world are racing to strengthen their fuel supply as the U.S.-Israel war with Iran enters its third week.

Since the conflict began, disruptions to oil and gas supply chains have been felt globally and show no signs of easing, The Witness reports.

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In Vietnam and Sri Lanka, governments have urged reduced travel to conserve fuel, with Vietnam promoting remote work and Sri Lanka declaring weekly public holidays for public institutions.

In South Africa, the government is diversifying its fuel import sources, enhancing strategic storage capacity, and accelerating key infrastructure investment, Department of Mineral and Petroleum Resources (DMPR) spokesperson Lerato Ntsoko said.

She said fuel consignments scheduled for March and early April were already secured prior to the recent escalation in global tensions, but warned that the situation remains dire.

“As a net importer [a country that relies on external supply to meet its needs] 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,” Ntsoko said.

She said the government has growing concerns over this week’s developments in international oil markets, which have already exerted upward pressure on fuel prices.

Supply chain disruptions and heightened uncertainty affecting critical global shipping routes have caused crude oil prices to exceed $100 per barrel more than once this week.

Crude oil prices climbed above $110 a barrel on Wednesday and continued to increase on Thursday.

The price move followed an Israeli strike on Iran’s South Pars gas field — the largest gas field in the world and the biggest source of Iran’s domestic energy supply.

Iran retaliated by attacking Qatar’s Ras Laffan, the country’s main gas facility, hours after Iran said it would target oil and gas facilities across the Gulf region in retaliation for the South Pars strike.

Oil prices were already elevated as critical oil and gas infrastructure had previously been hit, and the Strait of Hormuz — a narrow waterway through which a fifth of the world’s oil supply passes — has been closed by Iranian forces.

Analysts warned that prices will continue to increase until the war comes to an end.

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