Business Day·3 min read·medium
Mantashe warns economy will lose R1bn a day if SA runs out of fuel
K
Kabelo Khumalo
✦AI Summary
The South African government is proposing a new mandate requiring private oil companies to maintain 21 days of backup fuel reserves. This policy aims to prevent economic losses of R1bn per day during potential supply shocks.
Private oil companies and wholesalers will be legally compelled to store 21 days of backup fuel at their own expense, in a big pivot that transitions the country from a voluntary into a mandatory regime, forcing the private sector to store significant volumes of backup fuel alongside the government.
economybusinesspolitics
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