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"The problem is not with the retailers," Reggie Sibiya of the Fuel Retailers' Association (FRA) told BusinessLIVE.

He went on to deny rumours of retailers withholding petrol until the price hike came into place. "Some petrol stations have run dry, but it's an on and off issue - they are not permanently dry. 

"And, the situation isn't that the public can't get petrol at all - some stations will be able to supply petrol."

Sibiya said the fuel shortage was "not new" but appeared to have come to the fore before the 34c per litre hike in all grades of petrol on Wednesday.

"The problem lies in that the supply chain is not functioning as it should with the closure of the Sapref refinery."

The Sapref refinery in Durban is the country's largest. It stopped operating earlier this month after suffering continuing mechanical problems. It was estimated that the refinery would begin operating again in mid-February or early March.

Sibiya said the public should not engage in panic buying.

"Even though the price of petrol is going up and people think they'll make a huge saving by filling up before Wednesday, this isn't so."