Fuel stock hoarding: Ramaphosa and Mantashe urged to intervene to ensure stability, prevent disruptions

Premier Alan Winde said that the increase in hoarding of fuel stock by some suppliers is unethical. Western Cape Premier Alan Winde has written to the presidency and the office of the Minister of Mineral and Petroleum Resources, Gwede Mantashe, to raise his concern over a purported increase in hoarding of fuel stock by some suppliers. Windeidentified fuel suppliersas those at fault for not releasing fuel to customers after isolated reports of shortages in the Western Cape emerged.

He said that while the province has recognised the very real concerns raised about the impact of the Middle East conflict on the fuel supply, there is no cause for concern. He said that while the province has recognised the very real concerns raised about the impact of the Middle East conflict on the fuel supply, there is no cause for concern According to the latest datafrom the Central Energy Fund,diesel prices could rise by between R9.86 and R10 per litre, depending on the grade, making it the biggest increase among all fuel types. Petrol, meanwhile, is also expected to rise, with 93-octane and 95-octane grades forecast to increase by around R5.24 to R5.76 per litre, respectively.

Winde said that the increase in hoarding of fuel stock by some suppliers is unethical. “I implore suppliers to continue providing fuel for their clients. Withholding supply places the economy and livelihoods, especially in the province’s agriculture sector, which accounts for over 50% of the entire country’s exports, at great risk.