Fuel prices in South Africa are set to surpass R30 per litre, marking a sharp increase driven by the ongoing US-Iran war. The surge follows disruptions in Middle East oil exports, with attacks on shipping routes and reduced Gulf energy supplies. According to local media, petrol and diesel prices are expected to exceed previous records by Wednesday.
The conflict has intensified pressure on global markets, with oil exports from the Middle East, excluding Iran, surpassing pre-war averages. However, the Strait of Hormuz remains a critical bottleneck, as attacks on shipping continue to hinder trade. Kpler data shows that pipelines have helped bypass the area, but the overall flow remains volatile.
The war has also impacted Pakistan, where over nine million people are benefiting from a petrol subsidy. The country imports most of its fuel, making it vulnerable to rising international prices. The Petroleum Minister noted that the conflict has raised costs for motorists and businesses.
The situation reflects broader economic consequences of the US-Iran conflict, with energy markets reacting to security threats and geopolitical tensions. As the war continues, fuel prices are expected to remain high, affecting economies across the globe.
