2023-04-20 15:09:59
The president of the oil company Puma in Africa warns that Mozambique is on the verge of a “serious energy crisis” for not allowing stations to raise fuel prices, which might run out in two to three months.
“Mozambique is today on the verge of a serious energy crisis in terms of hydrocarbons, for two reasons: the price is very low compared to the real cost of the product and those who subsidize this situation are the companies in the oil market”, said Fadi Mitri in a conference press conference this week in Maputo.
“The Government owes around 25 billion Meticais (350 million euros) to the fuel industry and this is an unsustainable situation”, said the leader of one of the operators in the market.
Unable to adjust prices, set by the Government, Mitri said that, in the first quarter, distributors of petroleum products reduced fuel imports by 54% compared to the same period in 2022. “So, within two to three months there will be no fuels in Mozambique”, he warned.
According to the president of Puma in Africa, the monthly increase in Mozambique’s debt calls into question the reputation of gas stations with banks, which are starting to reject proposals for new loans, especially among less robust Mozambican distributors.
“When the debt is prolonged, the banks start to reject this request. Mozambican petrol stations are the ones that suffer the most, as international ones are more financially sound,” explained the official.
For that official, the solution to stop a fuel crisis in Mozambique is simple: “Prices should rise, in diesel, by 4.55 Meticais per litre. On gasoline it is not necessary. This does not mean that there will be an immediate repayment of the 25 billion Meticais that the Government owes, but, with this measure, the debt begins to fall”.
Since July 1, 2022, the date of the last adjustment, gasoline has cost 86.97 Meticais and diesel has increased to 87.97 Meticais per litre.
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