JOHANNESBURG - President Cyril Ramaphosa has set up a task team to look at mitigating the impact of rising oil prices.
It's made up of Ministers of Finance, International Relations and Trade and Industry.
The move comes as consumers brace for record-high fuel price increases from Wednesday.
READ | Motorists brace for Wednesday's massive petrol price hike
Vincent Magwenya, Presidency Spokesperson, said the task team will look at how government can manage exposure to the Middle East conflict and cushion the economy and consumers.
"They will be looking at a set of recommendations that will be presented to cabinet for measures that will be adopted in response to the crisis that's emerging in the Middle East that we are not completely insulated from," Magwenya added.