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Peter Sinkamba, leader of the Green Party has attributed the continued rise in fuel pump prices to UPND government’s inclination towards its Western allies.
Sinkamba noted that the government had failed to take advantage of the offer from the Russian government on cheap fuel procurement due to its inclination to Western countries such as the European Union and America.
The Green Party leader told Zambia Monitor in an interview in Lusaka on Sunday that the fluctuations in fuel prices were indeed inevitable until certain measures were put in place.
He stated that the volatility in international market prices and dollar fluctuations had continued to significantly impact Zambia’s fuel prices.
“One potential solution is trading with Russia, which has offered to supply fuel at reasonably priced arrangements,” Sinkamba suggested.
However, Sinkamba alleged that the International Monetary Fund (IMF) conditionalities pose a challenge to the proposal, given the UPND government’s inclination towards the West.
“To stabilize the market, the government could consider a phased approach to removing subsidies or creating a limit below which subsidies will be implemented,” Sinkamba proposed.
He argued that the volatility was affecting manufacturers’ planning decisions and leading to increased costs of production and living for most Zambians.
Similarly, Sydney Chiyaba, leader of the Democratic National Party said the increment was causing high cost of living and high prices for most essential commodities such as mealie meal.
Read More: Zambia: Homes, businesses to pay more for petrol, diesel in December (See details)
“The government should find solutions for low and affordable fuel price such as a crude oil reserve agency that will mitigate high prices by conserving fuel and buying in bulk,” Chiyaba said.
He noted that fuel was a catalyst that drives the economy and that the government should urgently review some of the proposals which were being put across to reduce the cost of fuel in the country.
Petroleum product prices were adjusted upward for December 2024, with petrol costing K33.67 per litre, reflecting a 97 ngwee increase, while diesel moved from K30.11 to K32.47 per litre.
Jet A-1 has also been adjusted to K31.49 from K29.57, and kerosene will now cost K28.67 per litre, up from K26.95.
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