WATCH: Don’t panic, cargo destined for SA passing through Strait of Hormuz ‘without interruption,” Mantashe says

2026-03-26 - 03:11

Mineral and Petroleum Resources Minister Gwede Mantashe has urged South Africans not to panic about a possible fuel shortage, saying vessels carrying cargo and supplies destined for South Africa are passing through the Strait of Hormuz without interruption or threats of attacks from Iran. Mantashe was responding to questions in the National Assembly on Wednesday as South Africans remain deeply concerned about fuel shortages and a possible massive spike in fuel prices, which is expected to kick in next week. Fuel supply The United States and Israel’s war in Iran has ignited global panic, with the conflict expected to severely impact fuel prices and supply. During the session in the National Assembly, ANC MP Fasiha Hassan asked Mantashe whether South Africa’s petroleum supply security arrangements are adequate to withstand a sustained external supply as a result of the war. Mantashe said there was no need to panic. “You will see that the question reflects panic. And as a mineworker, one thing I learnt early in life is that panic kills. Despite the heightened geopolitical risk, including the disruption to the Middle East shipping routes, the Republic’s current petroleum supply security arrangement remains robust.” Strait of Hormuz Mantashe said Iran’s stated position should allay fears of immediate supply disruption, especially to South Africa. “I am sure if you monitor the news, you will appreciate that the Strait of Hormuz allows cargo that goes to South Africa without interruption. So that means we have a chance to maintain a stable supply for a long period of time. There should be no panic in South Africa; panic kills.” Iran’s requirements Mantashe added that Iran gave countries two requirements to continue operating in the strait, saying Pretoria was engaging BRICS partners about the current conflict. “In the Strait of Hormuz, there is one requirement they want, you can go through if you are not a partner or in alliance with the US and Israel. If you are not in alliance with those, you are allowed through. The second requirement is that you will pay Iran in rial, not dollars. “That is a political decision taken by Iran,” Mantashe told MP’s. “All cargo coming to South Africa is allowed through. There is no fear of this. Unless you want to identify yourself with [the US] and Israel.” Little SA can do With the price of petrol expected to be announced next week, Mantashe said there was little South Africa could do about oil price shocks. “There are things we can do and things we can’t do. If cargo cannot reach us from the Middle East, then come 1 April, you can expect a price increase. The only way that SA could mitigate the risk of oil price shocks would be for it to develop its own petroleum resources. “The only way is to drill, drill, drill and produce our own petroleum. If we don’t do that, we will not overcome the risks of war. Every time we drill, we are taken to court. If we could have special courts dealing with those cases, it would go a long way to solving that problem. If we have our own sources of energy, we can mitigate,” Mantashe said. Fuel shortage Meanwhile, Aas South Africans brace for a massive looming petrol price hike, residents in the Cape Peninsula are already feeling the pinch. Reports of rationing at Garden Route service stations and delayed diesel deliveries have raised concern, particularly within the agricultural sector at a critical time in the farming calendar. In addition to diesel, input prices such as fertiliser are also increasing due to the planned rise in fuel and diesel costs. Petrol prices According to the Central Energy Fund’s (CEF) latest March data, petrol and diesel prices are showing massive under-recoveries due to the ongoing war in Iran. The CEF data show that 93-octane petrol has an under-recovery of 507, while 95-octane petrol has an under-recovery of 562. Motorists using diesel-powered vehicles face an even steeper hike. The price of diesel (0.05% sulphur) has an under-recovery of 937, while diesel with (0.005% sulphur) is at 950. Forecast If these forecasts remain unchanged, motorists will have to bear the pain of massive hikes on 1 April. Petrol 93: Increase of R5.07 per litre; Petrol 95: Increase of R5.62 per litre; Diesel 0.05%: Increase of R9.37 per litre; Diesel 0.005%: Increase of R9.50 per litre; and