No Fuel Price Increase as Zambia Responds to Oil Crisis
The Government has stepped up measures to shield Zambia from escalating global petroleum prices driven by ongoing geopolitical tensions in the Middle East.
According to the Ministry of Energy, international crude oil prices have risen sharply from around US$78 to US$94 per barrel, exerting pressure on domestic fuel pricing structures. Permanent Secretary for Energy, Prof. Ephraim Munshifwa, said the surge reflects supply chain disruptions and uncertainty on the global oil market.
“In response, Government has implemented targeted measures aimed at safeguarding national energy security and cushioning consumers from adverse price shocks,” he noted, adding that no upward fuel price adjustments were made in March despite increases across African markets.
Prof. Munshifwa explained that the Government has adopted an inclusive approach, engaging key stakeholders such as oil marketing companies, transporters and regional partners to ensure coordinated and sustainable solutions.
Among the key interventions is the revamping of three strategic petroleum storage depots in Mongu, Mansa and Chipata, with a combined capacity of 20 million litres. These facilities complement existing storage infrastructure in Ndola and Mpika and are expected to strengthen the country’s fuel reserve system and ensure a steady supply nationwide.
Government is also intensifying efforts to secure alternative sources of petroleum products to diversify supply chains, particularly if geopolitical tensions persist.
Meanwhile, the Ministry has assured the public that Zambia’s fuel supply remains stable. Diesel stocks currently stand at 285 million litres, representing approximately 56 days of national cover based on an average daily consumption of five million litres.
Petrol stocks are at 40 million litres, equivalent to 23 days of supply, while kerosene stands at 65.9 million litres, covering about 9.3 days. Jet A-1 fuel stocks are estimated at 1.6 million litres, translating into 10 days of cover.
Prof. Munshifwa said the Government is actively monitoring supply logistics to ensure continued availability of petroleum products, including those with lower stock levels.
He further cautioned the public against panic buying and warned industry players against fuel hoarding, stressing that such practices could create artificial shortages.
“The Government will take firm action against any entities found engaging in such conduct,” he said.
The Ministry of Energy reaffirmed its commitment to closely monitor global developments and implement appropriate interventions to safeguard Zambia’s energy security and protect consumers.
