Home Zambia News Fuel price hike looms

Fuel price hike looms

Fuel Price to remain unchanged for now

The Oil Marketing Companies Association of Zambia (OMCs) have warned of a potential fuel pump price hike in the next one month owing to rising price of oil on the International market.

OMCs president Dr. Kafula Mubanga said this is especially if the trends on the international market were wholesale prices of the commodity have increased by 150 percent since January do not change.

He has since called on government to quickly get to know the available stocks in the country as this will help Government work out measures such as stabilizing the local currency.

Dr. Mubanga said Government should also look at ways of revamping operations at Indeni Oil Refinery.

“In due time you will expect an upward adjustment if the expected window of about a month if prices do not come down it triggers an upward adjustment, but if we have enough stock, then the price will not be adjusted immediately,” Dr. Mubanga said.

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