Zambia Has Fuel Reserves to Weather Global Storm, Says Minister

Zambia has sufficient fuel stocks to shield consumers from the immediate fallout of a rapidly escalating war in the Middle East, Energy Minister Makozo Chikote has confirmed, urging the public to remain calm and avoid panic buying.

Speaking at a press briefing on Thursday, Minister Chikote revealed that the country currently holds approximately 326 million litres of diesel — equivalent to 60 days of cover — and 32.8 million litres of petrol, covering 19 days of supply. Both figures sit above the minimum thresholds required under Zambia's national fuel reserve framework.

"There is no immediate threat to fuel availability," the minister told journalists. "Diesel and petrol stock levels are above minimum thresholds and provide reasonable protection against short-term shocks."

The reassurance comes against a deeply alarming global backdrop. On 28th February, the United States and Israel launched coordinated military strikes against Iran, targeting the country's nuclear programme and missile arsenal. Iran has since retaliated with waves of ballistic missiles and drones directed at Israel and multiple Gulf states, including strikes on energy infrastructure in Qatar, fires at the critical Jebel Ali Port in Dubai, and attacks on US military facilities in Bahrain. Oil prices have surged around 20 percent in a matter of days as markets digest the scale of the disruption.

At the heart of the economic concern is the Strait of Hormuz — the narrow maritime corridor connecting the Persian Gulf to the wider world. Approximately 20 percent of the world's crude oil passes through this route, and any sustained closure would send shockwaves through global energy markets. Analysts have projected potential global inflation increases and risks of recession if disruptions persist.

Minister Chikote was direct about the risk to Zambia. "While Zambia is geographically distant from the geo-politics, we are integrated into the global petroleum supply chain," he said. "An escalation could therefore affect international crude prices, refined product prices, freight and insurance costs, and ultimately the landed cost of petroleum products into our country."

For now, however, existing stocks procured at pre-war prices mean Zambian consumers are insulated. "This month we don't expect any changes because this was already procured at lower international prices," the minister confirmed. He also issued a clear warning against opportunism: "No one should take advantage of the situation to start increasing prices. The product that we have gives us comfort for this month. Because you are aware that ERB regulates the prices."

Looking further ahead, the minister cautioned that a prolonged conflict could eventually reach Zambian petrol stations. "If the geo-political tension persists into the medium term, we may see sustained increases in international prices of petrol, diesel, kerosene and Jet A-1. This could create upward pressure on domestic pump prices unless offset by exchange rate gains or policy interventions."

Chikote, who cut short personal leave to oversee the situation, was emphatic that the government would not be caught off-guard. "I will continue to monitor developments closely and I will keep the nation well informed. I'll not go to sleep," he said.

For now, the message from government is clear: Zambia's strategic reserves provide a meaningful buffer, the regulatory framework is intact, and the situation is being actively managed. There is no cause for alarm.