The Fuel Industry Association says South Africa’s fuel supply remains stable despite reports of shortages at some filling stations across the country.
The association says the shortages being reported are not due to a lack of fuel nationally, but rather isolated cases where certain stations have temporarily run out of stock. It believes the situation is largely being driven by panic buying as motorists rush to fill their tanks ahead of an expected sharp fuel price increase next month.
The Department of Mineral and Petroleum Resources says no relief measures are currently planned for motorists before the next fuel price adjustment. The department has confirmed that the price changes will be announced next week.
Fuel prices are expected to rise significantly in April amid ongoing conflict in the Middle East, which has pushed global oil prices higher and placed additional pressure on local fuel costs.
According to projections by the Central Energy Fund, petrol could increase by more than five rand a litre, while diesel prices could rise by more than nine rand a litre. These estimates are based on current international oil prices and the weaker rand against the US dollar.
Motorists will also face additional increases through fuel-related levies. These include adjustments to the general fuel levy as well as the Road Accident Fund levy, both of which form part of the final price paid at the pump.
Industry experts say the anticipated increases could have a broader impact on the economy, with higher transport costs likely to push up the price of goods and services.
Despite the looming price hikes, authorities are urging motorists not to panic buy fuel, emphasising that the country’s overall supply remains secure.
The association says the shortages being reported are not due to a lack of fuel nationally, but rather isolated cases where certain stations have temporarily run out of stock. It believes the situation is largely being driven by panic buying as motorists rush to fill their tanks ahead of an expected sharp fuel price increase next month.
The Department of Mineral and Petroleum Resources says no relief measures are currently planned for motorists before the next fuel price adjustment. The department has confirmed that the price changes will be announced next week.
Fuel prices are expected to rise significantly in April amid ongoing conflict in the Middle East, which has pushed global oil prices higher and placed additional pressure on local fuel costs.
According to projections by the Central Energy Fund, petrol could increase by more than five rand a litre, while diesel prices could rise by more than nine rand a litre. These estimates are based on current international oil prices and the weaker rand against the US dollar.
Motorists will also face additional increases through fuel-related levies. These include adjustments to the general fuel levy as well as the Road Accident Fund levy, both of which form part of the final price paid at the pump.
Industry experts say the anticipated increases could have a broader impact on the economy, with higher transport costs likely to push up the price of goods and services.
Despite the looming price hikes, authorities are urging motorists not to panic buy fuel, emphasising that the country’s overall supply remains secure.
