Motorists in Cape Town are facing fuel shortages after an unplanned outage at the Astron Energy refinery in Milnerton disrupted the supply of Unleaded Petrol 95 (ULP 95).
Story Summary:
- Cape Town is experiencing fuel shortages due to an unplanned outage at the Astron refinery in Milnerton.
- Fuel providers such as BP, Shell, and Engen are facing stock shortages of Unleaded Petrol 95 (ULP 95).
- A November fuel price hike is expected based on CEF data, driven by rising global oil prices.
Cape Town fuel shortage: Here’s what we know
Several stations, including BP, Shell, and Engen, reported running dry, leaving frustrated drivers travelling long distances in search of fuel.
The situation has sparked outrage across the city, particularly among those relying on ULP 95.
BP South Africa has been particularly affected, with a spokesperson confirming to the Cape Argus that a Mogas import vessel was redirected to Cape Town to alleviate the shortfall.
However, weather delays have hampered this effort.
Engen and Shell have also confirmed disruptions, with contingency plans being put in place to restore fuel supplies as soon as possible.
Astron Energy confirmed that the refinery is now back online, and full supply should be restored soon.
However, the outage has already caused significant disruption, leaving many motorists scrambling to refuel.
Fuel price forecast for November 2024
Adding to the woes of Cape Town motorists is the possibility of a petrol price hike in November.
The latest data from the Central Energy Fund (CEF) reveals under-recoveries for fuel imports, which could lead to price increases at the pump next month.
Currently, the under-recovery for Unleaded Petrol 95 stands at 47.357 cents per litre, a slight improvement from last week’s 93.447 cents.
Diesel shows a similar trend, with a current under-recovery of 25.926 cents per litre.
Despite this improvement, consumers should still brace for potential price increases, though they may be less severe than initially expected.
The rising global price of Brent crude oil, driven by geopolitical tensions in the Middle East and ongoing OPEC+ production cuts, is contributing to the potential fuel price hike.
With these global factors continuing to exert pressure, the final price adjustment will depend on how the under-recoveries evolve in the coming weeks.
