DMPR assures public of no immediate risk of fuel shortages
The Department of Mineral and Petroleum Resources (DMPR) says there is no immediate risk of fuel shortages in South Africa.
The DMPR says it is in continuous contact with oil companies operating in the country to ensure the stability and security of fuel supply and is closely monitoring developments in the Middle East and their potential impact on global oil markets and fuel prices.
It acknowledges that the continued rise in international crude oil prices is expected to result in higher fuel prices at the pump from April.
The under-recovery on fuel prices has been fluctuating since the onset of the conflict, which is now in its twelfth day. The DMPR will provide further updates ahead of the April fuel price adjustments.
South Africa has two operational crude oil refineries, namely Natref and Astron Energy, in addition to the Sasol Secunda coal-to-liquids plant, which continue to play a role in domestic fuel production.
The crude oil refineries rely on crude oil imports sourced primarily from West Africa and, increasingly, from other countries across the African continent.
Oil companies that are importing 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 DMPR says.
The Astron Energy refinery is undergoing a planned maintenance shutdown, but the company has secured sufficient fuel imports to cover supply requirements during this period.
While prolonged geopolitical tensions may exert pressure on international oil prices, the DMPR 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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