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South Africa’s Department of Mineral and Petroleum Resources (DMPR) has warned its citizens of a possible fuel hike in April.
The DMPR had recently increased the pump price, effective March 4, citing higher shipping rates and the geopolitical uncertainty caused by escalating tensions between the United States, Israel and Iran as justification for the increase.
The agency assured that, although the ongoing escalation in the Middle East intensifies, the country’s fuel supply remains stable and it is not at immediate risk of fuel shortages.
IF oil price trends continue for the remainder of March, South Africans could see record-breaking increases of up to 6 Rands per litre.
Two operational refineries, Natref and Astron Energy, contribute to South Africa’s domestic fuel production, but they rely primarily on crude oil imports from West Africa and other African countries.
Times Live reported that the Astron Energy refinery is undergoing a planned maintenance shutdown. DMPR, however, noted that the company has secured sufficient fuel imports to meet supply requirements during the maintenance period.
It clarified that the maintenance is not the cause of the possible hike, but rather the Middle East crisis, which is unlikely to end anytime soon.
It said it will continue monitoring the situation ahead of the official April fuel price adjustment, expressing hope that easing geopolitical tensions could stabilise global oil markets and improve fuel price conditions.
