The Energy Regulation Board has increased the pump price of petroleum products effective Monday midnight.
In a statement, the ERB says Petrol has been increased by K1.13n and diesel by K1 while Kerosene has been adjusted upwards by 72 ngwee.
Petrol will now cost K9. 87n per liter from K8.74n and the new price of diesel will be K8.59 n from K7. 59n while Kerosene will now be K6.12n from K5.40n.
ERB said the depreciation of the Kwacha has mainly been caused by the global strengthening of the US dollar against major currencies, low copper prices and weak foreign currency inflows.
Now watch how Zambians will cry,especially those who own no cars.When alcohol prices go up,nobody complains.
Ati ifintu ni Lungu. We will borrow money to cover higher costs of fueling our government cars and helicopters
This PFoolish government is choking Zambians. And ERB are mere cadres who know nothing about world economics. The Kwacha depreciation is not about worldwide US dollar strengthening but about lack of confidence in PF economic governance. These flip-floppers are screwing up the economy with bizarre economic policies – high mine taxation, powercuts, high interest rates, no employment creation policy. Expect the Kwacha to hit K10 per USD before Christmas.
What ERB is not telling us is that oil prices on the international market have reduced. Edgar Lungu has no vision, he does not understand economics. High fuel price, load shedding= catastrophe for the economy. PF=Power Failure=Cimbwi no Plan
Zam Cab, The only language semi illiterates unfortunately who make up most of the voters understand is pain. Let the prices go up further, Food get more expensive, Transport, Health services and all. let there be anarchy due to high cost of living. Maximum suffering, then the Zambian will understand that 90 percent of them are in poverty.
Infact even the next term should go to PF so things get completely out of hand. Only then will they understans and fix it. This is a UNIP situation 1991. Tissue needs to run out. No newspapers also and leaves dry in October so they just use the toilets with no solution to clean. Kekekeke. Lol Am watching with healthy fried Chickens on my table.
THAT IS LINGU FOR YOU. THIS PRESIDENT IS A SERIOUS LIABILITY TO THE NATION. ZAMBIA IS GOING NOWHERE AS LONG AS EDGAR LUNGU AND HIS FAILED PF GOVERNMENT CONTINUE RUNNING THE AFFAIRS OF THIS NATION.
One point, corruption at any level increases the costs.
Dont worry fellow citizens, it usually goes down before general elections meantime enjoy.
Now that we need generators to run businesses due to power cuts they increase the price of diesel!!!!!!!!!!!!!!!
pf no plan,these guys have made so much money with their corruption actvities,niku voter bwino njala izatinyokola maningi,petrol up,dollar strenghening is a fake excuse,government should a way of cushioning such kind of events,is zambia the only country affected by the dollar in the region?because petrol in the region has not been increased the zambia has done it,its just poor management of the economy
One pf one zambia
Poor ERB!you just increase fuel prices anyhow.you thieves!How are we going to find relief in this country?you frogs!you are the ones who are making the to regard.Agalu imwe!Reverse pump price with immediate effect.you dogs!
Maybe Voters can wake up now.
Before elections they deliberately dropped the fuel prices.
Now they have increased.
Plse Voters wake up and vote for the right people come 2016
How come ERB? Explain to the nation, the international price is expected to drop further and you is the opposite. Tell us who’s behind this scandal!!!
Aba Niba Nyongolosi.
now we are importing power using the dollar, more pressure on exchange rate.
the mines are to cut power by 30% meaning that which means production will be affected thus less export in terms of quantity, low price of copper means less dollars flowing in. more pressure on the exchange rate.
the total sum of this is high cost of living.
the first victims will be the poor, next middle income bracket, the least affected are the ministers who enjoy free fuel and others benefits.
efintu ififine!
Ifintu ni Lungu.
Efintu ni stealing. Ifintu ni no plan.
Tiye tiye, uzadya vintu ni Lungu.
Will kwacha ever gain strength??? Maybe let’s have one African currency in Africa like Europe.
Tapali ifyo twingacita,nangu tuilishanye abanensu baleti fintu ni Lungu.This is a clear sign to show how corrupt PF is.
Which sector can we point out as performing well? education? health? energy?
Which descent ordinary Zambian is benefiting from this government…honestly?
PF is only benefiting PF cadres who get stolen money and win road contracts and other corrupt deals, otherwise the rest of us have no government.
Those of us who have relatives in the villages let’s start now by going there and educate them the need of voting for credible and God fearing leaders, we can’t continue like this, people stealing our money under our noise and we are just quite. Kaya mwandi. Country men and women let’s come together and fight this cancer out.
What a Govnment.
These illiterate PF cadres are putting us in so much problems! Please people who are able to understand what is happening educate these PF cadres in your compounds! Imagine a president coming to shout at people who put in power saying, “if you don’t want me or Pf go away from this country. You like it or not Iam the president and you can’t do anything about, just follow what I say or you get crushed” imagine such utterances coming from the president! This man has no respect for the electorate and he has fear of the unknown. He can’t believe that he is president and that’s why he acts like a cadre! Look closely at him, he is a man without confidence in anything! He tells citizens what he himself doesn’t believe in!
Infintu ni Lungu…they shouted from their sunroofs…now the message will surely hit their candle lit homes…fuel on the world market has not increased…you paying the price of allowing incompetent empty tins oversee the economy…infintu ni Lungu!!
A pity people commenting above do not understand economics. The fuel price has nothing to do with the way PF is governing. It is a function of oil prices on the international market. Though oil prices the past year have been lower on the international market emerging market currencies have been hard it by the strength of the dollar and a continued fragile global economy. Last week the Soutn African Rand slumped to its 16 year lows against major currencies. Unfortunately governments in Zambia or South Africa can do nothing about the currency. Judge the government on the GDP growth not factors they have no control over.
Unfortunately constant power failure, misuse of public finance, increased petrol fees and people fines do have a poor ‘ffect on the GDP. Get my drift?
BTW if you are an economist you keep abreast will economic news. Oil prices have gone down further
South Africa has a clueless Zuma as president just as we have a visionless Lungu as president and both countries have a weak currency. Coincidence?
Robert , I believe we are all learned people. Make me believe that when my cost price goes down then it is logical for me to increase my selling price.. ???
Back to donkey riding!!!!!!!!!
@Joseph Phiri! Check todays business news, oil prices have gone down further on world market and how does that push up the price in Zambia only, of all the countries in southern africa? Explain!
PF KOLOPA KOLOPA DOT FUEL DOT. LOADSHEDING DOT POVERT
Crude Oil and Commodity Prices
July, Tuesday 14 2015 – 07:29:12
WTI Crude Oil
$52.20 ?-0.54 -1.03%
2015.07.13 end-of-day
I wonder why fuel prices are increasing when the world market price is showing a downward trend.
Maybe i am missing something here. ERB please explain…
we move in the opposite. We have a Lawyer as a president
Ati Ifintu ni Lungu ama rubbish yekayeka
One day you will die and go to heaven. For as long as there is incompetence and poor vision there will be gnashing of poverty-stricken grinning teeth. Continue to think your government will solve your problems. Thank goodness I am getting out tomorrow!
Ba Zambia finshi mulefwaya, natwishisha fwebene x2, Lungu fye lungu ye, lungu ewo tulefwaya. Hahahaha, Me electricity is on 24/7 and no fuel hikes. Hahaha yaba, enjoy the time bane.
PF SAYS ” ZONDA UZALEMA!”
THE PEOPLE SAY ” PF WAIT AND SEE, 2016 IS COME”
Definitions of terms used in commodity trading
Yama The movement has been like below Its even cheaper like subsidised especially with carbon tax below cost reflective
Though ERB rate flexing must be smoothened to avoid unpredictable pricing and remove cyclical effects getting energy prices right
Month Price Change
Dec 2014 62.16 –
Jan 2015 48.42 -22.10 %
Feb 2015 57.93 19.64 %
Mar 2015 55.79 -3.69 %
Apr 2015 59.39 6.45 %
May 2015 64.56 8.71 %
Jun 2015 62.35 -3.42 %
Fundamentally the dollar has strengthened against major currencies…
and as per defined commodity terms and characteristic over the horizon ERB must have done a good back ground review except the planning rate flexing is too short but a long-term view boot strapping the rates in prices over the price review period will help
It requires a slight adjustment to the pricing methodology and some risk management exposure in principle to practical applications
Garbage in garbage out.
Its really the Iran and the Six Global super powers talks The talks had sent the markets into an expectation of increased supply if the talks yielded the desired objectives Its now clear sanctions would not be removed and therefore the expectations has factored in that market information and prices have moved accordingly ERB There is a lot of uncertainty and noise for the future as the indexes in S&P energy sector advanced 0.8%,. Brent settled up 1.1% to $58.51 and US crude settled up 84 cents to $53.04 a barrel. There is a lot of uncertainty and long-term view will be important to take and not adjust prices often