JOHANNESBURG, March 19– South Africa’s Department of Mineral and Petroleum Resources has said that the country’s fuel supply remains stable in the immediate term despite heightened volatility in global energy markets driven by the ongoing geopolitical tensions in the Middle East.
In a statement issued on Wednesday, the department assured the public that adequate fuel supplies are currently available, adding that efforts are underway to secure additional supplies from diverse sources to ensure continued stability.
The government is actively coordinating with industry stakeholders to secure both crude oil and refined petroleum products from a diversified range of sources, while implementing a comprehensive plan to manage potential supply risks, the statement said.
According to the department, fuel consignments scheduled for March and early April had already been secured before the recent escalation in global tensions.
Deliveries have begun and are expected to sustain national supply in the coming weeks. “As a net importer of petroleum products, South Africa remains inherently exposed to external market dynamics.
Sustained increases in international oil prices, coupled with exchange rate fluctuations, are expected to push up domestic fuel prices in the months ahead,” it added. (Namibia Daily News / Xinhua)
