UPND President Hakainde Hichilema has said that President Edgar Lungu and his government should reduce the price of fuel immediately in line with the decline in global crude oil prices.
In a statement released to the media, the UPND leader said that with the oil price declining to its lowest level from US$110 a barrel in 2010 to the current US$30 a barrel, President Lungu has no alternative but to reduce the price of fuel NOW.
Yesterday the oil prices briefly fell below $30 a barrel on international markets for the first time since April 2004, before recovering again.
Brent crude, used as an international benchmark, fell as low as $29.96, but bounced back to trade at $30.22. Oil prices have fallen by 70% in the past 15 months.
Below is HH’s full statement
HH Calls for fuel price reduction
President Edgar Lungu and his government should reduce the price of fuel immediately in line with the decline in global crude oil prices.
With the oil price declining to its lowest level from US$110 a barrel in 2010 to the current US$30 a barrel, President Lungu has no alternative but to reduce the price of fuel NOW.
Zambians have suffered enough with high fuel prices leading to rising prices of food, commodities, transport and higher costs of production to mention but a few. It is inconceivable for the PF to justify the current high prices as global.
The fuel price in Zambia increased significantly during the second and third quarter of 2015 and led to higher inflation and anxiety in the country.
The upward adjustments were implemented by the PF Government without due care for the plight of the suffering Zambians. This is definitely not a pro-poor government.
The outlook of the fuel prices as at 11 January 2016 in our neighboring countries and some other African states still indicate that we have the most expensive fuel in the region as can be seen below;
|Country||Fuel prices as at 11 Jan, 2016|
|(USD per litre)|
The subsidies that President Edgar Lungu referred to in his media address were removed by the PF Government way before the demise of the late President Michael Sata (MHSRIP). This is just another case of Donchi Kubeba (PF lies).
We therefore demand that the PF government give a full explanation as to why fuel prices have remained high, despite a significant drop in global oil prices.