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Fuel price hikes becoming "increasingly unavoidable," warns South African minister

Source: Xinhua| 2026-03-17 01:17:17|Editor: huaxia

CAPE TOWN, March 16 (Xinhua) -- Fuel price increases are becoming "increasingly unavoidable" as a result of the conflict in the Middle East, South Africa's Minister of Mineral and Petroleum Resources Gwede Mantashe warned on Monday.

Speaking at the Southern Africa Oil and Gas Conference 2026 in Cape Town, Mantashe said fuel supply chains have experienced disruptions since the onset of the conflict in the Middle East, while the under-recovery on fuel prices has continued to fluctuate.

"While questions remain about potential fuel supply disruptions, the reality is that substantial fuel price increases are increasingly unavoidable," the minister warned.

Countries that rely heavily on imports of refined petroleum products remain particularly vulnerable to global market shocks, he said, adding that the South African government is engaging with industry players to secure fuel supplies and ensure availability in the domestic market without immediately drawing on strategic reserves.

"The sustainable long-term solution to our challenges lies in domestic production. This can only be achieved through the rigorous exploration and responsible exploitation of our own petroleum resources," he added.

The two-day conference, hosted by the Department of Mineral and Petroleum Resources in partnership with the Petroleum Agency SA and the South African Oil & Gas Alliance, is held under the theme "Oil & Gas without Borders: Unlocking Southern Africa's Shared Future," and focuses on developments in the region's upstream petroleum industry.

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