The National Oil Company of Malawi (NOCMA) has asked Malawians not to panic over fuel.

In a statement released on April 20, 2022, the company has assured Malawians that it is still aggressively importing petroleum products in the country to ensure security of fuel supply.

The statement says despite some instabilities in global oil supply Malawians should relax.

If further attributes these instabilities to some prevailing factors in the industry which include the movement in international refined petroleum prices following the increasing trend in crude oil prices.

Additionally, the continued sanctions imposed on Russia despite its discounted crude oil prices which have since disrupted energy flows as Russia is one of the biggest global exporters of oil.

On the other hand the scramble for Petroleum products in the Arab gulf where most African Countries including Malawi source its product.

With respect to diesel, apart from increasing crude oil prices, there is also a global shortage of diesel supply which is due to lower exports from Russia as a major exporter of distillate fuel at discounted prices. This is the reason for the higher price adjustment in the diesel price in comparison to petrol in the recently announced MERA fuel price adjustments.

NOCMA has therefore informed its stakeholders that the intermittent stock-out of diesel being experienced in a few service stations should not be a cause for panic.