Tuesday, June 18, 2024

NDC wants fuel reduction following oil prices drop on international market


Roan Member of Parliament Chishimba Kambwili
Roan Member of Parliament Chishimba Kambwili

The National Democratic Congress has urged the Energy Regulations Board to immediately revise the fuel pump prices following the substantial reduction of fuel prices on the international market.

NDC Consultant Chishimba Kambwili said the people of Zambia are already feeling the debilitating effects of the increased fuel prices.

Mr. Kambwili said the recent adjustments of fuel prices by the ERB has triggered an upward adjustment in food prices and other essential goods and commodities.

He said the ERB should have no excuses in waiving fuel prices considering that crude oil has reduced by 20 percent on the international market.

“Oil prices have now hit about US$60 per barrel. Thus, the need to reduce the fuel pump prices is long overdue”, Mr. Kambwili has said.

Meanwhile, Mr. Kambwili had demanded that Government removes middlemen in the supply procurement chain of crude oil to reduce on the amount of money spent on the importation of such commodities.


    • The only thing Kambwili was right about before the real evil spirits took control was what he said that the TONGA can even reject JESUS if he came for not being TONGA.

    • There is no Minister of energy. By the time Zambia finds a Minister of energy, price of oil will be 10 times higher.
      Last Minister of Energy was Konga. The guy got rich, and MMD was funded from oil deals. You forgot?

    • A dull copy cat that is repeating what Green Party Sinkamba said. However, as can be expected a very shallow comment as usual from Chishimba one without substance, which middlemen are these that Kambwili is talking about? Be specific to add weight to your argument. Sometimes you wonder if this chap was asleep when he was in govt? Why can’t he be more descriptive? Sinkamba would go through it point by point:
      1. ERB- what exactly is the role of ERB who are the members and why are they there?
      2. What are the added costs in the value chain from source to the final destination at the pump, how can some be avoided or reduced
      3. Why should the prices go up if we are entering into forward contracts with pre agreed prices of up to a year in advance?
      4. What selection criteria does the Govt as…

    • Ctn…
      4. What selection criteria does the Govt as buyer of this fuel follow, why aren’t the Tenders if that is the process advertised and made public?
      Etc, Etc, Etc…

    • Checkmate ERB !!!
      Last, the oil was increased, ERB Board Chairman Raymond Mpundu, stated that oil prices had increased on the international market whilst the Kwacha had depreciated. He went to say “Of the two fundamentals, the International oil price has been the most volatile and is the key driver for this price adjustment. “. If the International oil price has reduced, logic tells me, there is a need for adjustments downwards.

  1. Imwe bane let by gones be bygones. Ck already apologised. For now he’s talking sense unless those who don’t drive.

  2. If some of these politicians leant to close their moths a bit we would probably give them a benefit of doubt that they have some gray matter above their necks. Kambwili mwaiche bushe niwe uchita calculate the amount of drop in fuel as a result of the change in crude oil prices? Tekanya Kambwili. If you need to be relevant in your political carrer you must behave well. You are the one chasing away good people from going into politics because of your shallow behaviour. Ati ba politician???

    • Kambwili is ok because even President Trump tweeted congratulating himself for the drop of crude prices only to be corrected that this has not affected pump price.

  3. What is wrong with what do is saying ?
    If currently oil prices are lower, Zambia should see lower oil prices later when the lower prices stock hits the market , no ??

    Of course unless PF need money to pay for lungu new jet ….

  4. Zambians let’s learn to love ourselves get wat we deserve.Its sad to see some comments here.I see people supporting the current pump price.Nishi are you the guys benefiting and are you also ma middle men

  5. Just been reading Yahoo News, yes the prices have come down but even in USA this has not affected pump prices. It’s easy to increase pump price when the fuel source increases but not so when it reduces. NDC concerns are humanly ok but not in economics.

    • A certain level of education should be a must for all aspiring to be leaders! More so in this era we find ourselves in with rapid world socioeconomic developments taking place.
      Our political leaders think they can reduce the price of fuel by brokering government to government deals in oil procurement by simply negotiating with the Gulf States or Saudi Arabia! not knowing that these countries have sold the crude oil long before it has been produced.
      In 2017, the preferred market that provided the highest dollar value worth of crude oil is Asian countries that accounted for purchases valued at $429.8 billion or 49.2% of the global total. In second place were European nations at 29.2% while 17.4% of worldwide crude oil imports were delivered to North America.
      In large parts this is…

    • ….continued
      In large parts this is because most major oil refineries are found in these regions and therefore, the price of fuel in these regions will be cheaper!
      Zambia with its sole 24,000 barrel (3816m3) per day Indeni Petroleum Refinery built in 1973 can only play a distant second fiddle in the crude oil market and therefore has to buy extra processed diesel and petrol from the EU to satisfy industrial and domestic requirement. This means that GRZ has to pay premium for processing and freight costs.
      That coupled with the grim reality of our very weak kwacha means that more often than not, we are unlikely to be beneficiaries of any price reduction for crude oil.
      The long term solution lies in expansion of receipt storage facilities for crude and modernization of our Indeni…

    • …continued
      The long term solution lies in expansion of receipt storage facilities for crude and modernization of our Indeni refinery to provide surge in both supply and fuel price.
      But obviously this is a farfetched priority with the caliber of politicians such as CK. HH I am sure knows one or two things but has decided to mimic MSC as the sure route to Plot 1 – not to tell what must be done but wait until he has been given the mandate!

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