• At least a 2 percent upward adjustment in fuel pump prices at the impending review.
• Government must considers re-introducing fuel subsidizes to reduce prices of diesel and petrol
• it is high time that Government started encouraging private investments to create a fuel pipelines between Mozambique and Zambia

Oil Marketing Companies Association of Zambia (OMCAZ) has projected at least a 2 percent upward adjustment in fuel pump prices at the impending review following the rise in crude oil prices on the international market to $100 per barrel.

Speaking in an interview with Money FM News, Association President Dr. Kafula Mubanga said government must considers re-introducing fuel subsidizes to reduce prices of diesel and petrol on the local market.

Dr. Mubanga noted that it is high time that Government started encouraging private investments to create a fuel pipelines between Mozambique and Zambia in order to cut down on the cost of transportation by almost 50%.

“OMCs have already secured over $25 million to invest in the creation of a pipeline to lower the cost of transportation also stating that government must consider the option of regional agreements to start accessing finished petroleum products directly from India, ’he said

Oil prices on the international Market have surged above $100 per barrel after Russia launched an invasion of Ukraine, piling pressure on a global economy already reeling from rampant inflation.