Threat of increase in cooking oil price spikes panic buying in Durban

This is just another alarming story in what is becoming a very difficult time for people.

People are starting to panic buy cooking oil.

Oxford Supermarket shared with IOL that people were sending in car guards to purchase five litre sunflower oil on their behalf.

READ MORE: Massive fuel price increase

“We have stock for the next months, but if informal traders and shop traders come in and clean out the store, then there won't be enough for the ordinary customer. We had a situation where people were sending in car guards to buy oil for them," Oxford owner Brett Latimer said.

This is why they have now limited customers to four bottles of the 5 litre oil.

For now, their oil price remain the same – R149 for five litres.

"We want to honour our customers and keep the prices the same because this is stock that we have," he assured. 

READ MORE: Fuel price increase unlikely permanent

He further warned that customers should brace themselves for cooking oil to breach the R200 mark soon. 

A spokesperson for Willowton Group said the situation was very volatile and could change at any time with the political situation in Europe. 

“Prices could rise to between R200 and R250 for 5 litres based on today’s international prices, but that’s today. This could change at any time and could come back quickly if the situation normalises.”

READ MORE: How to be fuel efficient in light of the fuel price increase

One thing is for sure though - there will always be cooking oil available in South Africa. 

So, take it easy with the panic buying, guys. 

Main Image Courtesy: Oxford Supermarket Facebook