Fuel prices will continue to go down, says Frank Bwalya

By BARNABAS ZULU

FUEL prices will continue to go down because government has been implanting policies and cutting middlemen in the procurement of petroleum products so that Zambians should begin to benefit its ripple effect, the UPND has said.
Frank Bwalya, the presidential campaign media director says government has been implanting measures meant to ensure that the cost of petroleum products such as petraol and diesel were reduced.
Oil marketing Companies (OMCs) have in the past attributed the high cost of petroleum products to the failure by government to implement the International Monetary Fund (IMF) Open Access Policy.
According to the OMCs, the petroleum sector had been monoplosed by politically exposed individuals who were often single-sourced to use the Tanzania Zambia Mafuta (TAZAMA) Pipeline who were determining the cost of fuel.
But Mr Bwalya has assured Zambians that the cost of fuel would continue to reduce after some middlemen had been cut off, stating that the cost of living was now expected to drop drastically.
Mr Bwalya highlighted recent reductions in fuel prices, describing them as a positive development with wide-reaching effects on the economy.
“As a party, the reduction of fuel, particularly diesel, comes as good news because it has a ripple effect on production costs,” Mr. Bwalya said.
He further noted that the increased availability of electricity is also contributing to lower costs for businesses and households that previously relied on generators for activities such as welding or running salons.
Mr. Bwalya emphasized that addressing the cost of living requires multiple factors working together.
“Reduction of fuel alone, without adequate and affordable electricity, may not be enough. But in this case, fuel has been reduced, electricity availability has increased, inflation is down, and the kwacha remains stable. These economic fundamentals will soon translate into reduced production costs and lower prices on store shelves,” he explained.
He added that the timing of these measures, at the start of the agricultural season, is particularly significant. “As the harvest begins over the next two months, more food will be available, which will further bring down prices.
Many Zambians are also producing their own meal from locally milled maize, reducing reliance on purchased food,” Mr. Bwalya said.
The UPND expressed confidence that these combined factors will lead to a tangible improvement in the cost of living for ordinary Zambians in the near future.