Minister of Energy says Zambia’s fuel supply remains stable despite escalating geopolitical tensions in the Middle East that could potentially disrupt global petroleum supply chains.
Speaking at a media briefing today, Makozo Chikote, however, said government is closely monitoring developments in the Gulf region, particularly around the strategic Strait of Hormuz, which handles about 20 percent of the world’s crude oil shipments.
Mr. Chikote stated that Zambia is unlikely to experience an immediate increase in pump prices within the next month because current fuel stocks are procured earlier at lower international prices.
He explained that any prolonged disruption or closure of the corridor would pose a serious threat to global oil supply stability and could affect countries such as Zambia that are integrated into the global petroleum supply chain.
“The Middle East is currently experiencing geo-politics where most of our petroleum products come from. These happenings have a bearing on the supply chain both in the short and long term and therefore require urgent attention,” Mr. Chikote said.
He stated that an escalation in the Gulf region could affect international crude prices, refined product prices, freight and insurance costs, and ultimately the landed cost of petroleum products imported into the country.
“If sustained, continued geo-political tension in the Gulf region may translate into upward adjustments in local pump prices in the medium to long term,” he stated.
The Minisetr noted that in the short term, heightened tensions have already resulted in global crude oil price spikes due to supply uncertainty, increased freight and insurance premiums, higher transportation and logistics costs, and temporary supply chain disruptions.
Mr. Chikote warned that if geopolitical tensions persist into the medium term, international prices of petrol, diesel, kerosene and Jet A-1 could increase, creating upward pressure on domestic pump prices unless offset by exchange rate gains or policy interventions.
He added that under Zambia’s import parity pricing model, prolonged global disruptions could increase the landed cost of fuel, particularly if shipments are rerouted around the Cape of Good Hope, resulting in higher freight charges.
Mr. Chikote stated that the Ministry of Energy is working closely with the Energy Regulation Board (ERB), TAZAMA Pipelines Limited and Oil Marketing Companies to continuously monitor global market developments and ensure adequate fuel supply, and assured the nation that there is no immediate threat to fuel availability in the country.
“As of today, 5th March 2026, Zambia’s stock position stands at approximately 326 million litres of diesel, equivalent to 60 days of cover; 32.8 million litres of petrol, equivalent to 19 days of cover; 104 million litres of kerosene, equivalent to 14 days of cover; and 1.6 million litres of Jet A-1, equivalent to nine days of cover,” Mr. Chikote explained.
The Minisetr emphasized that diesel and petrol stock levels are above minimum thresholds and provide reasonable protection against short-term supply shocks.
Mr. Chikote further urged the public not to panic buy or hoard fuel, noting that the country maintains a strategic fuel reserve framework supported by statutory levies designed to cushion short-term supply disruptions.
