Minister of Energy Makozo Chikote has warned Oil Marketing Companies (OMCs) and fuel service station operators against hoarding fuel, saying the practice is illegal and will attract sanctions.
In a statement issued today, Chikote said Zambia’s petroleum stock position remains stable and urged citizens not to panic buy fuel despite global tensions affecting oil markets.
The minister noted that government had already assured the nation during last week’s press briefing that fuel stocks were stable and there was no need for panic buying.
He explained that Zambia’s fuel reserves had been procured earlier at lower international prices and are sufficient to cushion short-term disruptions despite global tensions involving United States, Israel and Iran.
Following the conflict, Iran reportedly closed the Strait of Hormuz, a critical maritime route through which about 20 percent of the world’s oil supply passes.
Chikote said government had received reports that some service stations were deliberately withholding fuel from the market in anticipation of possible price adjustments.
“We have received reports that some service stations may be deliberately withholding fuel from the market in anticipation of possible price adjustments,” he said.
He stressed that government will not tolerate such conduct.
“Let me make it clear that such behaviour is a violation of petroleum supply regulations and will not be tolerated,” said Chikote.
The minister added that inspections are being intensified across the country in collaboration with the Energy Regulation Board (ERB).
“We are working closely with ERB to ensure full compliance with petroleum supply regulations. Any operator found hoarding fuel will face sanctions,” he said.
Chikote reassured the public that Zambia’s fuel reserves remain adequate.
“As of today, Wednesday, March 11, 2026, our petroleum stock position is stable. Diesel stocks stand at 310 million litres, giving us 29 days of cover, while petrol stocks stand at 34.8 million litres, equivalent to 20 days of cover,” he said.
He added that the country also has 82.9 million litres of kerosene, providing about 11.6 days of cover, and 2 million litres of Jet A-1, equivalent to about 11.5 days.
While Jet A-1 stocks remain below the desired minimum threshold, the minister said the situation is being actively managed to ensure supply stability.
Chikote urged citizens to remain calm and continue buying fuel normally.
“There is no cause for panic buying. Zambia’s petroleum supply remains secure, and our reserves are designed to cushion short-term disruptions,” he said.
He added that government continues to monitor developments in the Middle East and their potential impact on global petroleum supply chains.
These are jokers. Their failed policies in the fuel sector are the source of the looming shortages. Everyone in the fuel sector knows that. But these people are so dishonest, so crooked that they want to shift blame, when they know very well were the root of the matter is
Kikikikikiki! The OMCs can see the price hitting the ceiling very soon. That war wont end soon. Like any capitalist businesses they are greedily hoarding the supply.
Kucenjela