Fuel prices remains unchanged despite coming in of cheap oil from Saudi Arabia – Nkhuwa

Government says the fuel price remains unchanged despite the importation of cheap fuel from Saudi Arabia.

Minister of Energy Mathews Nkhuwa said despite the arrival of the commodity from the Arabian kingdom, it will not result in the reduction of fuel pump price in the country.

Mr. Nkhuwa explained that the K 20 million fuel consignment coming from Saudi Arabia is far much less because the country uses one billion kwacha on fuel per month.

ZANIS reports the Energy minister to have disclosed during an interview today that the essential commodity from Saudi Arabia will get on the market as it is already refined.

“This consignment will not see a reduction in the pump price its far much less.

“The country uses one billion kwacha worth of fuel per month so this K 20 Million is not adequate but may be in the long run it may result in the reduction of the pump price.

“The fuel will not go through Indeni Oil Refinery because it’s a finished product so it can go straight to the filling station,” he said.

Mr. Nkhuwa further explained that the fuel comprise Petrol and Diesel, adding that it will take some time for the whole consignment to reach the country.

The ship carrying fuel from Saudi Arabia will dock at the port of Dar es salaam tomorrow Wednesday August 1st , 2018 after which pumping fuel from the ship will start on 10th August.

The commodity will then be pumped into the Zambian storage tanks in Tanzania and later on transported to Zambia using the trucks.

The importation of cheap oil from Saudi Arabia is under a government-to-government oil deal.

Source: Lusaka Times