Saudi oil attack affecting anticipated petrol price cut

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Experts speaking at the fuel retail association conference at Nasrec, south of Johannesburg, say the petroleum industry continues to face a number of domestic and global challenges.

The supply of fuel is the biggest issue.

They say disruptions in production will affect importers of oil, like South Africa and the latest attack on the oil facilities in Saudi Arabia will have an impact on the petrol price going forward.

CEO at the Fuel Retailers Association, Reggi Sibiya says “The prices will obviously go up if there is a slowdown in production which will then influence a huge demand.  South Africa unfortunately we are a net importer of oil so whatever happens outside of us we actually get affected…effectively share those resources.”