Mineral Resources Minister Gwede Mantashe has reiterated his assurance to South Africans that the country will not run out of fuel reserves, despite geopolitical instability driving up fuel prices.
Expanding on these assurances during his budget vote address to the National Assembly on Tuesday, Mantashe said enhancing and restoring the country’s refining capacity is essential to protect South Africa from such fluctuations.
Speaking to VOC News, energy expert Redge Nkosi described the minister’s remarks as “fairly confident,” noting that restrictions in the Strait of Hormuz are unlikely to directly affect South Africa because of the stable relations between Iran and South Africa.
“The main concern for the country could be logistical challenges and rising costs. However, South Africa should not face difficulties accessing oil through the Strait of Hormuz,” Nkosi explained.
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Photo: VOCfm
