SEVERAL OMCs PROTEST OVER RECENT REDUCTION IN FUEL PUMP PRICES
Several Oil Marketing Companies-OMCs have over the past few days halted fuel imports in protest against the recent reduction in fuel pump prices.
According to Oil Marketing Companies Association of Zambia- OMCAZ President Dr. Kafula Mubanga, some rogue OMCs are revolting against the price adjustment, which saw petrol prices drop to K32.70 per litre from K33.47, and diesel to K28.90 from K30.05.
Dr. Mubanga says this move is an attempt by the OMCs to pressure the government into increasing fuel prices, despite the reduction being deemed necessary as prices on the international market dropped with the exchange rate stable, while the adjustment is still protecting dealer margins.
He has condemned the protest, calling it unfair on stakeholders, and has challenged the Energy Regulations Board-ERB to enforce the law against protesting OMCs.
The OMCAZ President has distanced the association from the protest, expressing disappointment that it has persisted beyond the weekend raising concerns about the stability of Zambia’s fuel supply and the potential impact on the economy.
PN
SEVERAL OMCs PROTEST OVER RECENT REDUCTION IN FUEL PUMP PRICES
