• Fuel pump prices are likely to be adjusted upwards.
• This is in keeping with government policy of no subsidies and 30 days price review policy.
• If the prices continue building up, Government will find itself in a very difficult situation.

An Energy Expert has predicted an upward adjustment of fuel pump prices in the next monthly review of prices.
Speaking in an interview with Money FM News, Engineer Johnston Chikwanda stated that if the fuel prices continue building up in view of the war between Russia and Ukraine, Government may have to temporary suspend the subsidy policy and the 30days price review policy for some months until the situation normalizes.
Engineer Chikwanda said government can consider cramping a fixed fuel price for the next 3 months and work numbers behind the scenes, adding that certain budget lines especially on capital expenditure may have to be delayed and explained to the public.
“My expectation is that fuel pump prices are likely to be adjusted upwards in keeping with government policy of no subsidies and 30 days price review policy which was recently emphasized by the Minister of Energy. I’m aware that some countries have started to ponder some intervention measures such us UK and South Africa among others.”
“We are in a war situation, if the prices continue building up, Government will find itself in a very difficult situation where it may have to temporary suspend the no subsidy policy and the 30days price review policy for some months until the situation becomes normal,” Engineer Chikwanda said.
He also stressed the need for urgent following up on the government to government arrangement with Saudi Arabia or any oil exporting country where Zambia can get fuel at a cheaper price.
“There is also need for urgent following up on the government to government arrangement with Saudi Arabia or any oil exporting country where we can get fuel at a good discount and encourage private sector to import from such a country or government itself to go and buy for the industry until the situation has normalized.
And Engineer Chikwanda noted that the 30 days fuel price review was not meant to increase prices every month, but at the moment, the situation is not okay, hence the price will continue to build up.
Energy Regulation Board (ERB) is expected to announce new fuel prices later this week following the monthly review of prices.