WATCH: What will oil price spike mean for South Africans?

On Saturday coordinated strikes on key Saudi Arabian oil facilities. Courtesy #DStv403

JOHANNESBURG – The rise in oil price globally will ultimately affect the price of petrol in South Africa.

South Africans are about to feel the impact of the spike in oil prices.

The price surge follows a weekend attack on oil facilities in Saudi Arabia, which means there are fewer oil reserves to go around.

READ: US hints at military response to Saudi attacks as oil prices surge

The Central Energy Fund will detail the attack's impact on fuel prices on Tuesday but one thing is clear, South Africans will feel it at the pump.

The country does not have oil reserves to mitigate against such increases, after they were sold by government a few years ago.

The petrol price was expected to come down in September, but that has all but fizzled out.


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