Brace for fuel price hike, Chikote tells Zambians

Brace for fuel price hike, Chikote tells Zambians

By Ludia Ngwadzai 

MINISTER of Energy Makozo Chikote has warned Zambians to brace for an increase in fuel prices, attributing the looming petroleum price hike to the ongoing conflict in the Middle East.

Speaking in Parliament yesterday during the session for questions for oral answer, Chikote said the war in Iran and other parts of the Middle East was having a direct impact on both the pricing and supply of fuel to Zambia.

“Indeed, by leaving our traditional routes where we have been getting these products and starting to consider other routes will definitely result in prices going up. Because this is just the only option that we have and all we are looking forward Madam Speaker is to make sure that the supply chain is not disrupted, the country must continue having the product,” Chikote said.

He said there was urgent need to review the country’s fuel pricing framework in light of the changing global environment.

“And also we are looking at certain taxes that are being considered definitely by the Ministry of Finance, so that we are able to cushion in terms of the pricing,” he said.

Chikote said the government was taking immediate measures to ensure a consistent fuel supply chain amid the ongoing Middle East conflict, including exploring alternative sourcing routes via the western side of the African continent through the Walvis Bay port in Namibia.

He urged the nation not to panic, assuring Zambians that current fuel stocks stood at three months’ supply, which was sufficient to cushion the country while long-term measures were being put in place.

“The country’s current fuel storage capacity stands at 551 million liters, with diesel storage at 450 million liters [83 days of cover], petrol at 80 million liters [47 days of cover], kerosene at 7.5 million liters [1000 days of cover], and Jet A1 at 13 million liters [62 days of cover].

As of March 19, 2026, the country’s stock position was: diesel [285 million liters, 56 days of cover], petrol [40 million liters, 23 days of cover], kerosene [65.9 thousand liters, 9.3 days of cover], and Jet A1 [1.6 million liters, 10 days of cover],” he said.

Chikote also said the government was considering reviewing the open access framework and utilising the price stabilisation fund as tools to mitigate the impact of rising global fuel prices on consumers.

He said the government would further review the pricing framework and examine the revision of taxes, among other measures, as part of a broader strategy to manage the fuel price crisis.