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Economies

Government Assures Fuel Supply Stability Amid Global Oil Price Surge

Town Press
Last updated: March 19, 2026 12:26 pm
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Town Press
March 19, 2026
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The Department of Mineral and Petroleum Resources has moved to reassure South Africans that fuel supply remains stable in the short term, despite mounting pressure in global oil markets.

This follows reports of fuel shortages at several petrol stations across provinces including the Western Cape, Gauteng, Free State, North West and Northern Cape, where supplies of 50ppm diesel have reportedly run dry.

The shortages come amid escalating geopolitical tensions in the Middle East, which have driven international crude oil prices above $100 per barrel and disrupted global energy markets. Several countries, including Japan, South Korea and Thailand, have already introduced emergency measures such as releasing strategic oil reserves, implementing fuel price controls and promoting energy saving initiatives to protect domestic supply.

In a statement, the department said that fuel shipments secured before the recent escalation are already being delivered and are expected to sustain supply in the coming weeks. Government added that it is working closely with industry stakeholders to source both crude oil and refined petroleum products from a diverse range of suppliers, while also putting contingency plans in place to manage potential risks.

However, authorities warned that rising global oil prices and currency fluctuations are likely to result in higher fuel costs locally. As a net importer of petroleum products, South Africa remains vulnerable to international market shifts and disruptions to key shipping routes.

The department also called for greater transparency across the fuel value chain, particularly for unregulated products such as jet fuel, stressing that pricing must remain fair and compliant with competition and consumer protection laws.

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Government said it will continue to monitor supply levels and engage with industry to ensure timely interventions where necessary, as global uncertainty continues to impact the energy sector.

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