THE anticipated reduction in the pump price of fuel, which was expected this month, is likely to delay because the reserve facilities in Zambia are still filled with fuel imported by Oil Marketing Companies (OMCs), the Government has said.
Energy and Water Development Minister, Kenneth Konga said in an interview that the country had a lot of fuel, which was imported by the OMCs and cheaper crude oil whose ship recently docked in Dar-es-Salaam, Tanzania, could not be pumped to Zambia.
The fuel pump prices are expected to be reduced because the crude oil was bought at a cost of US$53 million compared to the last consignment’s $85 million following the fall in international crude oil prices.
Mr Konga said TAZAMA Pipelines would only start pumping the crude oil into the Zambian facilities once the current stocks had finished.
“The crude oil is still in our storage facilities in Dar-es-Salaam because we are waiting to finish the current stocks in Zambia. This is because the OMCs imported a lot of fuel which has led to surplus,” he said.
The minister said the Government did not put a limit to the quantity of finished products that the OMCs were supposed to import and that this had led to surplus.
[Times of Zambia]
Why not? thats stealing from Us…Alaaa.
why
[-x what else is new! Tired of empty promises! By the way Number 2!!
ok three!
:”> It was just a campaign strategy as applies to so many other things promised.
funny thing is increased prices apply to old stock!
Just as well these chaps didnt promise us men beautiful women, otherwise you can starve mwe.
Yea. Because they have to replace the money spent on the fundraising dinner dance!Who suffers??? an ordinary Zambian
The Govt of dreamers. They are still dreaming of the day when fuel pump prices will be reduced in Zambia when on the world market the price of the commodity has started to increase. Just when are these guys going to act quickly?
Petrol in South Africa is now under a dollar and there is another reduction come January.
Definately they cant reduce untill the stocks which they last ordered finishes. Thus the only dissadvantage of buying huge stocks in advance.
~X(~X(~X(~X(~X(
When It comes to increasing the price of he commodity they don’t wait for old stock to run out.
:-w:-w:-w
Ba Minister don’t play with our minds%-(%-(
TWALIMYEBELA BA NKUSA IMWE ATI VOTE PF, YOU NEVER LISTENED NOW LOOK AT YOUR SORRY BEHINDS, PETROL IS GOING DOWN EVERY WHERE IN THE WORLD NO EXCUSES IN ZAMBIA ATI NO OLD STOCKS, TOTAL LIES.BY JANUARY THE DEMAND OF CRUDE OIL WILL INCREASE THEREBY INCREASING THE PRICE OF FUEL SO BASICLLY THERE WILL BE NO DECREASE IN THE PRICE OF FUEL IN ZED.
:-?:-? how much longer do we have to wait?…
When are we going to have foresight? Zesco didn’t know Zambia was developing and therefore there was no need to upgrade our infrastructure over the years-result blackouts!And now we have over imported stocks of fuel oil! No storage facilities and no benefits of cheaper fuel will accrue to the ordinary motorist! Planning authorities wake up!!
I live in the UK and they have huge stocks of fuel. But when opec reduces the prices we see a reduction within 24hrs. Why is it that in (Z) when there is an increase its immediate but they cannot immediately reduce when there is a reduction? We are still behind and i am sorry if we think we are ever going to develop with this kind of mentality.
Zed politics, one wonders why the minister can make contradictory statements just to make pipo think that they are doing a good service. By the time the stold stock finishes, the price of fuel would have gone up such that we may not even enjoy the cheap fuel for a long time, cos the next consignment will be expensive. 😡
how can they reduce fuel if they cant reduce ubunga? keep dreaming bane.at least it is better than moaning all the time
Thieves!!!Thats what they are. shame on the pipo who voted for MMD as they will continue to live on empty promises :((
I support the government on this one.
Rashid shut up
its the ministers n mps who own most of these filling stations,in both rural n urban setups.they are now ripping abnormal profits so they have no reason to reduce the pump price.’anyandule’.and why shud the zambian taxpayers continue paying those loafers at ERB when they dont even know why they wake up to go to those offices.you plunderers!!!!!!!!!!! :((
Pumpy, ninshi? i have a right to support the government. you continue suffering because you made a very good mistake to put Nyama soya Lundani
iwe konga since when did u become ERB spokesperson.mula fwaya ukutwangasha iee,one day tu kachinja mano we beko na banobe
You should support the Government when they do something commendable not supporting them for your selfish gains!
:):(:(:”>/:):x
It shows that fuel supply is monopolised in Zambia. I expected it to respond to forces of demand and supply whether old or new stock.
:xSeasonal greetings guys. I want to end the year with a smile. I will try to avoid getting frustrated with politicking.:x8-|:-?:-\”;):)>-:-\”
Ba Rashid, do you even know what the debate is all about? The problem is that you are too MMD to even realise when they have made a mistake or not. I mean, what is there to support apa so? Cadrerism will kill you my friend. People lkie you cant even afford three meals a day but you are the first to dance Chikokoshi at the airport and support things you dont even understand. am sorry, but on this one, i think just shut up.
**==Pa Zed, chalo chesu bakaamba. Fuel or no fuel.^:)^
Not suprising!!!!!!!!!!! Mr President, You have failed us. U r bearlyless than # months in office and already things are upside down. Shame on you. You shouls have told us that Presidential Office was beyond You. U could have maintained your small job and taken care of you little children at home. We’ll keep waiting for a miracle until when Mr Banda lives office to have a happy life again in Zambia. If Mwanawasa rose form his tomb he would immediately die of another heart attack upon seeing what legacy Mr Banda has carried forward.
This is unfair :((
Our dear late president would die of a heart attack if he rose again and saw what legacy RB had carried forward. Shame on you sir. You a failure. Presidential Office is too high for You.
oh, I’m a man, I’m not supposed to cry, but the MMD guys should be careful, things will catch up with them soon. You thugs :o[-(
Katoto, thut is brilliant man.Ifwe kuculafwe
😕
It will be important that the government looks at many factors.
This is because while the price of fuel reached its highest the exchange rate of Kwacha to Dolar was at K3,100. Now the fuel price has reached its lowest and yet the exchange rate against the Dolar has risen to K4,900 as of today. This means that the cost of buying fuel from the international market to the zambian govt in Kwacha terms has almost remained the same. Therefore, even the public should be careful with the way they raise their expectations. Not much change in fuel prices should be expected if any at all.
The very fact that fuel may not go up despite the rising exchange rates is already a gain in itself.
This government is just a machine. Why is it that fuel prices change syncronise with crude oil prices in other countries? What is the point of having ERB and Energy Minister if the stock has to dictate fuel prices.
:d
so this punk RASHID can even speak bemba.
malibu ya kuilombela bane. You had a choice but you decided like blind men. you are in for it.my fellow exiled friend # 10 has told you that fuel in South Africa is getting cheaper even beginning next month. it is not magic it is just a global trend i dont know whyy MMd IS being greedy
Did the OMCs put money together and jointly bought the stock. Why not begin to process so that which ever OMC finishes can start buying cheaper oil from Indeni. Where are market forces. Can such a scenraio happen in the suppermarket business. We must allow competition.
Secondly, Govt used to say the fuel prices were high because Indeni was processing the expensive crude oil. No one said the OMC imported. At what price did the OMCs import. They are screwing Zambia! I have worked in the Zambian oil Industry. ERB is sleeping.
#37 Fine
That’s sound observation. I agree with you. We need more rational and analytical thinking.
It is surprising that the Govt can promote exploitation of Zambians in the broad daylight. This MMD govt always looks up to expensive sources. I know that OMCs must have bought their fuel at even much cheaper price than the one lumped on Zambians. If taxation is an excuse for the high price, I suggest that these taxes be slimed down to give Zambians a breether. There is cheaper fuel on the market but till now this govt is sticking to old stock, but till when?
Note from editor-Please change your name or else your comments will always be held up for moderation.Sorry for the inconvenience caused
THIS A REAL TASTE OF MMD’s BITTER PILL OF DECEPTION. THEY CAN NOT REDUCE FEUL PRICES AS THEY NEED BUCKS TO FUND THEIR NOW ABNORMAL PAY PACKETS. TO EXPECT MMD TO LISTEN FROM THE LARGER PUBLIC IS MORE OR LESS EXPECTING A STONE TO PRODUCE WATER IN THIS DAY AND AGE. MMD FOR NOW WILL PLAY TO THEIR OWN RULES UNTIL WELL INTO 2010 WHEN THEY WILL START LISTENING KNOWING 2011 IS AN ELCTION YEAR. MMD IS DECEPTION AND DECEPTION IS MMD AND THAT SHOULD SINK INTO MOST OUR HEADS BY NOW.
[-x
Are the two ship loads the same size. Telling us $85m and $53m is not enough.
Do the OMCs have oil tankers in transit or have they stopped importing?
Why are the OMCs selling imported fuel and fuel from Indeni at the same price. Can ERB or the minister explain that.
Yaba
These guys are quick to hike the fuel prices with out excuses and delay in reducing prices with a billion excuses, what is ERB there for kansi? i really wander guys, i have always thought about disbandly this board because they are just enjoying salaries than protecting us from exploitation.
If the OMCs are selling imported fuel, and given that ZMK has been depreciating, why are fuel prices not increased to reflect depreciation. I suspect the OMCs bought fuel from RSA so cheaply that they can still make good profits despite ZMK depreciating. They have been selling imported fuel at the same price Indeni fuel is selling. For sure Indeni oil is more expensive.
ERB has failed the nation. They have failed to regulate the OMCs. They have allowed OMCs to make a killing. How much of the fuel in circulation is imported?
The comedy is getting intense,thats a lame excuse [-([-([-([-([-([-([-(
Kuli kaantu banee, this is just a beggining
Mawe!!!! shame on MMD any way what do you expect? :((
The Zed is screwed!
**== awe mwe
increases in supply lead to a decrease in price….. Laws of Zambian Politics – increases in pre-electoral promises decreases likelihood of economic progress
how much is a liter of petrol pa zed?
Zambia forward, in tune with the Nation!
Thank you LT for providing only sensible animations:
:)>- UNIP, MMD l-), UPND =; others :-@
I dont need to be a economist to rubbish this Govt., statement. Even if they bought it at very high cost they can still sell it cheaper. The proceeds will still re-coup the fresh oil quantity wise consignment even surpase the quantity bought. We bought the crude oil at $149 (US Dollars per barrel but now it is $49 US dollars per barrel. a drop of more than 60% and the Kwacha has depreciated by only 50%. So what mathematics is Mpombo, ka Mulongoti, Nyama Soya and New Finance Minister using????? I stand to invite other analysts.
mmd pliz think of the poor not just yourselves:(:(
Sorry people, but these discussions make me depressed!
The money we earn hard is just sucked out of our pockets by greedy people!
When there is an increase in fuel prices – the next day we pay more at the pump – no matter how much of the cheaper fuel is still in stock.
But if the fuel prices go down – like everywhere else since sometime now – only not in Zambia – there is no reaction, no lowering of prices immediately. It’s a cheap excuse to say that there is still too much fuel in stock that was bought at higher prices.
Why not buy from Angola? What is so difficult that Zambia is not able to do that? Why is the Angolan Oil going to the US? Maybe it has to do with the payment culture?
High fuel prices in Zambia I like it.This is good and high mealie-meal price I like it too, whoever is in charge in increasing these prices I want you to keep increasing.Keep up the job,I like it. 😡
Nipa ZEDI ZEDI!!! Tizavutika!!!
I wonder why we dont buy fuel within Africa… why cant our Gov buy fuel on Government to government basis. I am sure this can be done. Venezuela has agreements with other Latinos
Zambia can do it with Angola or Nigeria or North African countries…
So sad the henchemen and the middlemen get our riches. Gov must come up with a plan to rescue the pooooooor ZEDIANS!!!
OMCs import finished products and not crude. Stop lying and do the right things at least for once
# 61 Mfumu, Our Indeni cannot process the real crude. Its a fractional distillation plant. You need to install a cracker to Indenibefore it can process the crude from Angola, nigeria etc. I was closely following the election promises and only PF though hated by most corrupt bloggers mentinoned setting up a lant with a craker in Northwestern Province to process the crude from Angola.
We have a long way to go before we can realise this dream. as long as we have Politicans with no real intent as heart, nothing will move in mother zambia.
~X(I am stuck ! While oil prices have reduced significantly the ZMK is spinning out of control at 4,800 to a US$.~X(:)]
*-:)I have got a solution.:)]I am negotiating with the Pirates who took hostage of the Sirius Star so that they bring the US100 million worth of crude oil to Zambia via Lake Tanganyika. I hope this will significantly reduce the price of fuel.[-xOh no it cannot work I am told there is no political will to reduce the price of fuel:((
ba govt mwilatupa u are not the only country with reserves, even with surplus u can still do some thing mwasha tule mitoba amabwe.
shi sleeping govt
ba PF you at it again, always trying to find political capital out of everything. You see,respond to the explanantion and not to just criticise. Cant you see that this country is stagnant becoz of unconstructive and time wasting criticisms. All of us want fuel prices down, mealie meal prices low. But PF militia are infact behind high mealie meal prices. Caleb Mulenga the chairman of millers Association is a staunch PF member and funded their campaign. I know they have a scheme to distablising the country thru raising prices of mealie meal. Sorry u will not succeed. Be patrotic and stop politiking be real..
Thanks DOBO…
I just wonder….
Its intesting, am buying my fuel midweek at equivalent ZMK3,200!!! ;):)>-:-??**==[-x8-}
No. 69, I envy you! Where are you living – like to move overthere too!!! ZMK 3,200 A DREAM over here!
Off topic,Why is zambia the most expensive country in southern africa?.