PRESIDENT Hakainde Hichilema says Zambia is hoping for a swift end to the ongoing conflict in the Middle East so that global fuel prices do not escalate and pile pressure on the country’s economy.
President Hichilema said Zambia, like many other nations, remains vulnerable to global shocks triggered by instability in major oil-producing regions.
Speaking during a meeting with the Councillors and Local Government Association of Zambia yesterday, President Hichilema said the government was monitoring international developments closely because even distant conflicts had direct effects on local fuel pump prices and the cost of living.
The President stated that Zambia stands firmly against any form of conflict and supports dialogue as the only sustainable path to stability.
“We all hope this war will come to an end quickly, so that it doesn’t shoot up the price of fuel and distort our inflation issues and other costs of doing business and living issues,” President Hichilema said.
“We don’t support war. We don’t support conflict, but that’s beyond us.”
The Head of State noted that while his administration had put in place economic reforms and diversification measures to reduce vulnerability, global disturbances have remained a challenge.
He said peace in oil-producing countries was important not only for Zambia but for the entire global economy.
The President explained that Zambia’s fuel pricing depends on three main factors which are the exchange rate, the cost of transporting fuel and the international price of crude oil.
While the first two factors are largely under government control, he said the international element was now under threat due to the escalating war.
“You have seen what we have been doing to the pump price. We have been pushing the pump price down, and it’s based on three parameters only; one is the exchange rate, which we are doing well. Two is the cost of transporting fuel. That’s why we are pushing more pipeline space, which is cheaper than road transportation,” President Hichilema said.
“Three is the international price of fuel. We are doing well on one and two. Now on three, the war in Iran is causing an increase in the fuel price. Then that is beyond us.”
Yesterday, at least three ships were attacked near the Strait of Hormuz, one of the world’s most important oil routes.
According to the UK Maritime Trade Operations Centre, two vessels were hit, while a third was narrowly missed by an unknown projectile.
In Asian trading early yesterday, oil prices surged more than 10 percent, with Brent crude reaching $78.72 a barrel and U.S. oil trading at around $72.20 per barrel, according to the BBC.
The Middle East tensions escalated further after US-Israeli strikes killed Iran’s Supreme Leader Ayatollah Ali Khamenei on Saturday, prompting retaliatory strikes across several countries, including the UAE, Qatar, Bahrain and Kuwait.
By George Musonda
Kalemba March 3, 2026
