The Energy Regulation Board (ERB) has announced a reduction in fuel prices for October 2024, bringing relief to consumers. The new prices, effective immediately, are as follows: petrol will now sell at K32.70 per litre, down from K33.47, diesel at K28.90 from K30.05, kerosene at K26.95 from K27.52, and Jet A-1 at K29.57 from K30.53.
ERB Chairperson James Banda attributed the price cuts to a drop in global petroleum product prices in September 2024. Banda explained that the reduction is largely driven by a decline in global oil demand, due to an economic slowdown in major oil-importing regions.
He noted that since the last fuel price review on 31st August 2024, international prices for petrol have fallen by 7.1%, diesel by 8.72%, and kerosene and Jet A-1 by 7.19%.
The revised prices are expected to provide some economic relief as the country continues to navigate challenges in the global energy market.
May the downward trend continue…!
K0.77 NGWEEE
Any little good news is welcome at this time….but continue reducing
hehehehehe honstly you call this relief awe sure