The Energy Regulation Board (ERB) of Zambia has announced adjustments in the pump prices of petrol and diesel for the month of October, citing the impact of fluctuating international oil prices and the depreciation of the Kwacha against the US dollar.
According to Reynolds Bowa, the Chairperson of the ERB Board, petrol will now be priced at K 29.98 ngwee per litre, up from the previous K 29.42 ngwee per litre. Diesel prices have also seen an increase, with the new rate set at K 29.96 ngwee per litre, compared to the previous K 26.88 ngwee per litre.
However, Mr. Bowa clarified that the price of Kerosene will remain unchanged, holding steady at K 20.44 per litre. Additionally, Jet A One, the aviation fuel used at the Kenneth Kaunda International Airport, will now be priced at K 29.29 ngwee per litre, up from K 26.46 ngwee per litre.
Addressing journalists during the monthly petrol pump price review updates at the ERB offices, Mr. Bowa explained that these adjustments were primarily driven by two key factors.
Firstly, fluctuations in international oil prices have led to upward pressure on domestic fuel prices. The global oil market has experienced volatility, impacting the cost of fuel worldwide.
Secondly, the depreciation of the Kwacha against the US dollar has contributed to the increase in domestic fuel prices. The exchange rate plays a significant role in determining the cost of fuel imports.
Mr. Bowa emphasized that the ERB is closely monitoring these factors to ensure that fuel prices remain reasonable and in line with international market trends.
Reopen Indeni and revert to bulk buying of crude feedstock chapwa
Heavy duty trucks use diesel so expect every commodity to become expensive
Was this story written by a UPND cadre the likes of Kawana and Mweetwa? Ati announces fuel price adjustments. It is: announces fuel price rise!
Monthly petroleum adjustments without strategic reserve stocks is a risky national security blunder. Same way our empty maize silos are a conservative safety issue. Energy and food have not been well cared for by government. We are in a rude and crude state of affairs. Who advised grz to take away subsidies from fuel to education without a safety net?
Further increases. Did we not warn you about hh. The boy had never held public office. Running small company like grant Thornton and undervaluing state companies does not make a person competent to run a country
Poor Flow(PF) were selling petrol at K17 instead of K10 therefore pocketing K7. Uncultured People Not Democratic (Upnd) are selling at K29.98 therefore pocketing K19.98 for themselves.
Please don’t talk about world trends these don’t influence anything…..in your own words… remember Kambwilis GLOBAL?
That is why my friends slept with your wife. You are very childish
The impact of fluctuating international oil prices may be a valid reason. However, how is the depreciation of the Kwacha against the US dollar completely beyond your control as the so called New Dawn Government? Then what’s the point of having a President and cabinet in place? To monitor and report on economic trends with Zero interventions? Hakainde was grossly overrated.
In the previous elections we replaced something with nothing
Monthly adjancemets will make people lose trust in our currency. Fiat is backed by trust, once people lose trust kwacha becomes Zim Dollar.
Look at the current ramp up of the exchange rate. It tells it all.
The actual proposal was K30.83 for petrol and K31.63 for diesel but because of the backlash received from the public they decided to stay under the K30 mark. Expect the next increment to cross the K30 threshold.
The target on the IMF prescription is k35.
Zambians will pay the IMF loan through;
Fuel
Electricity &
Water
Make your own Biodiesel
Use solar Power &
Drill a Borehole
Thank me later
DANIELLE ABOVE IS SPOT ON!
WHAT IS THE GOVERNMENT DOING ABOUT THE FLUCTUATIONS!
SLEEPING AT THE WHEEL!