Brief
South Africa’s fuel minister warns price hikes outweigh supply risks
Minister Gwede Mantashe told parliament that South Africa’s crude and coal reserves cover 30 days, but global tensions are pushing fuel prices to record levels.
By Felo News Desk · Published
South Africa’s Minister of Mineral and Petroleum Resources, Gwede Mantashe, told the National Assembly that the country’s fuel‑price surge is a greater concern than any supply shortage. He said the nation holds enough crude oil for about 30 days and Sasol’s coal reserves can sustain fuel production, but disruptions in the Middle East and the Strait of Hormuz are driving up global oil costs.
Mantashe noted that the conflict involving Israel, the United States and Iran has lifted worldwide petroleum prices, and that South African fuel prices will stay well above pre‑war levels. The Central Energy Fund projects the upcoming price rise could add roughly R3.21 per litre to 95 Unleaded and R3.01 to 93 Unleaded, with diesel expected to increase by R2.75‑R3.15 per litre, according to Independent Online.
Key facts
- Minister Gwede Mantashe said South Africa has crude reserves for about 30 days (bizcommunity.com)
- Projected increase for 95 Unleaded petrol is around R3.21 per litre (bizcommunity.com)
- Global tensions in the Middle East are raising fuel prices worldwide (bizcommunity.com)
Sources
- [1] bizcommunity.com — originally reported as “South Africa’s rising petrol price is more pressing than supply, says minister”
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