The Banking Association of SA says the impact of the strike in the petroleum industry will be felt by banks if it is prolonged. The Chemical‚ Energy‚ Paper‚ Printing‚ Wood and Allied Workers Union (Ceppwawu) began its strike in the petroleum industry on Thursday after wage negotiation with the employer failed to yield results.Banks stand to be affected by the strike as companies contracted to move cash depend on fuel for their vehicles.Ceppwawu is demanding a 9% wage increase while the employer‚ the National Petroleum Employers Association‚ is offering 7%. The union also wants a one-year agreement but the employers want a multi-year agreement.The strike by 23 000 workers is expected to affect crude oil refineries and fuel depots.The Automobile Association has already warned motorists to top up in anticipation of possible fuel shortages.But the Banking Association of SA says its sector would only be affected by the strike if it went on indefinitely."Banks and other companies that received goods have fuel depots where they store fuel to help them when there are changes in supply. At the moment there is definitely no shortage which can affect services. Obviously‚ if the strike continues then the impact will start being felt‚" said Cas Coovadia‚ MD of the association.The work stoppage could further damage the economy‚ which is forecast by the central bank to remain stagnant this year after expanding 1.3% in 2015.SA is a net importer of refined petroleum products and a prolonged strike could lead to shortages ahead of municipal elections in August.Shell and BP jointly operate the country's largest refinery‚ the 190 000-barrel-a-day Sapref plant in Durban‚ with Chevron‚ Sasol and PetroSA also running refineries. TMG Digital/BDLive..