Some Multinational Oil Marketing Companies -OMC’s are not happy with the recently announced adjusted fuel pump prices instead of opting for slightly higher prices than those settled for by government through the Energy Regulations Board (ERB).
The price of petrol was recently hiked from K17.62 to K21.16 while that of diesel was adjusted upward from K15.59 to K20.15, prices the OMC’s do not agree with.
According to Phoenix news, OMC’s association president Kafula Mubanga said while the removal of subsidies was welcome, most OMC’s are of the view that the hike should have been slightly more and has attributed the current shortage in some parts of the country to some companies withholding stock to solicit government for a higher price increase in fuel.
Dr. Mubanga has also cited transportation challenges from ports of discharge due to the rains as part of the reason for the shortage of fuel but has assured stakeholders supply will stabilize during the course of the week once the OMC’s realize that government considered many factors including impact on the end user, business and regional pricing among others to effect the current prices.
He has since reminded OMC’s that they have a mandate, as much as for profit, to support the government of the day by responding positively to the supply chain process and ensure that there is enough stock in the country although he was quick to mention that Zambia’s fuel pump prices remain relatively lower in the region as most countries are currently at k22 plus per liter of petrol.
Meanwhile, a random check by Phoenix News in Kitwe between yesterday and this morning found that all the 5 operational filling stations in town center had no petrol prompting complaints from taxi drivers who have lost business due to the shortage of the commodity.
SOME OIL MARKETING COMPANIES WANT A HIGHER FUEL PRICE ADJUSTMENT
