ZAMBIA LIKELY TO EXPERIENCE AN ARTIFICIAL SHORTAGE OF FUEL DUE TO RUSSIA-UKRAINE CONFLICT

By Tinkerbel Mwila

Energy expert Boniface Zulu says Zambia is likely to experience an artificial shortage of fuel due to the conflict between Russia and Ukraine as some oil marketing companies may hold on to the commodity waiting for a further rise in the price of petroleum products.

Mr. Zulu explains that currently the demand for the commodity is high on the international market due to new sanctions imposed by western countries against Russia with several

western energy companies withdrawing involvement in Russian oil and gas projects since the beginning of the war.

He is of the view that due to this situation, some oil marketing companies may not release new fuel stocks on the market because they would want to make profits from the impending further rise in the prices of petroleum products.

Mr. Zulu is concerned that the situation will affect the stable supply of the commodity in the country.

PHOENIX NEWS

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