OMCs PREDICT HIKE IN FUEL PUMP PRICES
By Tinkerbel Mwila
The Oil Marketing Companies Association of Zambia says the unpredictable crude oil pricing at the international market caused by disruption in the fuel supply chain following continued fighting between Russia and Ukraine will result in an upward adjustment in fuel pump prices in the monthly review of fuel prices.
In an interview, Association President Dr. Kafula Mubanga is anticipating an upward adjustment on the pricing of petroleum products of between K1 and K2.
Dr. Mubanga explains that given the fundamentals and changes that are happening on the international market, the depreciation of the kwacha may also contribute to the upward adjustment.
He however remains hopeful that once blending of petroleum at Indeni Refinery commences, pump prices will be sustained.
The Energy Regulation Board-ERB- is today expected to announce new fuel pump prices.
PHOENIX NEWS