By Jane Chanda
Oil Marketing Companies Association of Zambia (OMCAZ) president, Dr. Mubanga Kafula, says the multi-purpose pipeline connecting Zambia to Tanzania will reduce fuel pump prices, aligning with the government’s efforts to lower fuel costs and improve Zambians’ standard of living.
Yesterday, energy minister Makozo Chikote projected that fuel prices, particularly petrol and other petroleum products, could stabilise by 2027, following the completion of a planned multi-purpose pipeline aimed at improving transportation efficiency.
And in an interview with Daily Revelation yesterday, Dr. Mubanga, said OMCAZ agreed with Chikote on his projection given the possibility of the multi-purpose pipeline as a way to reduce fuel pump prices and commodity servility. He said the government’s strides to lower fuel costs had already shown positive results with the recent K2 reduction on diesel, owing to the open access framework.
Dr Mubanga said OMCAZ expected fuel prices to decrease further, estimating that prices would reach around K25 and below within the next six months. He attributed this anticipation to the efficient and timely transportation of fuel via the pipeline.
Dr. Mubanga praised the government for actualising the open access regime, which had increased the availability of products in the market and noted that this would create competition and drive prices further down.
