Zambia Assures Public of Stable Fuel Supply Amid Middle East Tensions
Zambia Fuel Supply Secure Despite Middle East Conflict, Energy Minister Says
The Zambian government has reassured citizens that escalating geopolitical tensions in the Middle East are not expected to have an immediate impact on the country’s fuel supply or pump prices.
Speaking at a press briefing today, Makozo Chikote, Zambia’s Minister of Energy, said the country currently has sufficient petroleum reserves that were procured earlier at lower international prices.
“In the short term, over the next month, Zambia is not expected to experience an immediate increase in pump prices because the existing fuel stocks were purchased when international prices were lower,” Mr. Chikote explained.
He noted that the ongoing conflict in the Gulf region has triggered a spike in global crude oil prices, alongside rising freight and insurance costs. However, he emphasized that Zambia’s current reserves provide a temporary buffer against any immediate supply disruptions.
According to the minister, Zambia currently holds approximately 326 million litres of diesel, enough to cover about 60 days of national demand, and 32.8 million litres of petrol, which is sufficient for roughly 19 days.
Mr. Chikote cautioned that if geopolitical tensions persist, Zambia could eventually feel the effects through higher international petroleum prices, which may influence local pump prices over the medium to long term.
He also warned Oil Marketing Companies (OMCs) and fuel stations against hoarding fuel or adjusting prices outside the guidelines established by the Energy Regulation Board.
The minister stressed that the government will not tolerate any attempts to exploit the situation at the expense of consumers.
Mr. Chikote further urged the public to remain calm and avoid panic buying, reiterating that Zambia’s petroleum supply remains stable and secure.
