By Jotham Likomeno,
Economist Kelvin Chisanga has warned that the ongoing tensions between Iran and the United States of America could negatively affect the supply and cost of petroleum products in many countries, including Zambia.
Speaking to Mafken News, Mr. Chisanga noted that Zambia’s heavy reliance on imported fuel makes the country particularly vulnerable to global disruptions, including higher shipping costs, delayed deliveries, and increased transportation charges.
He explained that instability in major international markets could trigger price fluctuations and lead to rising inflation, warning that even the recently announced fuel price reductions could be reversed if global tensions escalate and disrupt supply chains.
Mr. Chisanga has since urged the government to take preventive economic measures, including maintaining strategic fuel reserves, providing temporary subsidies for vulnerable households, and implementing tax-relief measures for transporters, to cushion the economy against potential shocks should the situation affect the local market.
