Destroyed refineries will keep fuel prices high long after war: SARB
The South African Reserve Bank’s Monetary Policy Review has noted that the destruction of oil refineries amid the ongoing geopolitical tensions will keep fuel prices elevated long after peace is restored.
To watch the release of the October MPR : Read the MPR here: #SARBMPROct26 — SA Reserve Bank (@SAReserveBank) October 6, 2026 The comments come as South Africans contend with higher fuel prices, which have seen a litre of petrol climb to R30 on Wednesday.#SARBMPROct26 — SA Reserve Bank (@SAReserveBank) October 6, 2026 Chief Economist at the South African Reserve Bank, Konstantin Makrelov addressed guests at the release of the MPR in Pretoria on Tuesday night.
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