The Mozambican Association of Oil Companies (AMEPETROL) warned, this Tuesday, of the possible increase in fuel prices in Mozambique, starting in February, since the national reserves will only allow for the maintenance of supply stability until that period.

The association justifies the measure with the rise in oil prices in the international market, which, this Tuesday, reached a seven-year high, and also with the constant increases in CIF (Cost, Insurance and Freight) prices.

"The barrel price [of crude oil and its derivatives] [reached] today, 18/01/2022, in international markets, the value of 84.95 dollars, thus surpassing the record levels reached more than 7 years ago (October 2014)" according to the AMEPETROL statement to which MZNews had access.

The institution warns that in February, international prices will be reflected in imports to Mozambique, and the adjustment depends on the "CIF, exchange rate and introduction or adjustment of taxes (VAT, Customs Duties, and other fees).

AMEPETROL assures that it is working with national authorities to minimize the impact of the changes on the public. However, this dialogue does not foresee the stabilization of prices, but rather "the existence of stock, reducing the possibility of disruption in supply and maintenance of import, storage and distribution capacity of all member companies of the [association]".

"AMEPETROL reiterates its commitment to guarantee the full supply of fuels in the national territory and during the next few days will continue to monitor the evolution of prices in international markets," the press release concludes.