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Petrol Stations Warn of Stock Shortage, Reservations Only for 28 Days

Petrol Stations Warn of Stock Shortage, Reservations Only for 28 Days

The Mozambican Association of Oil Companies (AMEPETROL) revealed last Friday, 14 April, that the business is at unsustainable levels with increasing difficulty in carrying on its activities.

According to the organisation, petrol companies are facing serious difficulties in their business processes, such as the impossibility of issuing bank guarantees that are essential for importing fuel, warning that current reserves in the country only cover 28 days.

a d v e r t i s e m e n t

Cited by the Observatório Económico website, the president of AMEPTROL, Michel Ussene, said that “the level of debt of the State that has been incurred since mid-2021 to gas stations totals US$400 million” and “continues to grow.

At the end of last year, the petrol companies, through AMEPETROL, reached an agreement with the Government, in which a debt repayment formula was found, which assumed two principles: that domestic prices would now be based on cost factors, and the application of a compensation formula starting with 1.25 meticais for each litre sold, to be increased by 0.75 meticais every three months.

“The industry was very pleased with this agreement, but unfortunately it was not implemented in its entirety,” revealed Michel Ussene.

“In our calculations, the price of fuel should be around 110 meticais a litre for diesel and in petrol it should probably be around 103 to 104 meticais and this is a value that fluctuates month to month,” he pointed out.

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Meanwhile, AMEPETROL said it understands the relevance of price stability for the normal functioning of the economy as a whole, “but this should not be to the detriment of a part of Mozambican companies or the economy which continues to subsidise the price of fuel”.

The petrol companies are calling for the effective implementation of Decree 18/2019 – Regulation on Petroleum Products -, which regulates the activities of production, import, reception, storage, handling, distribution, commercialisation, transport, export, re-export, transit and pricing of petroleum products in the national territory.

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