South Africa warns against panic buying as fuel supply fears grow

The South African government has moved to ease fears about fuel supplies amid the war with Iran, noting that the country has enough capacity in reserve to last until April.
According to Department of Mineral and Petroleum Resources director general Jacob Mbele, orders had been placed by numerous petroleum companies from different parts of the world.
Currently, orders for finished products will be placed six weeks before they are delivered. For crude oil, we are looking at a period of three months before it is delivered. In a normal situation, there should be a product being received every six weeks,” he said.
The official added that projections for supplies drying up by the end of April had been based on orders that were already placed by the petroleum companies.
“They are continuing to place orders, and if all goes well, we are hopeful that the product will continue flowing as they are sourcing these products where they have facilities, as the Middle East continues to have challenges.”
Although South Africa has been struggling with logistical issues, Mbele highlighted that the country’s three refineries would “continue to produce,” with the Astron refinery – currently undergoing maintenance – expected to be brought back online by mid-April. “So far, we are guaranteed import supply. The situation is fluid, but it is being managed,” he assured, adding that motorists should avoid panic-buying petrol as there was plenty in reserve.
Automobile Association of South Africa CEO Bobby Ramagwede echoed this statement, emphasising that the country had enough fuel. “Don’t panic. We have fuel and oil reserves. It’s only when we start eating into those reserves that we start depleting them and have reason to panic. Consumers need to be aware that we receive the bulk of our refined oil from different parts of the world,” he remarked.
Mbele concluded that panic buying would lead to shortages due to the logistical cycle and requested buyers not to buy more than they needed.
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