Board (ERB) offices
The Energy Regulation Board has reduced fuel pump prices by K 0.25 for petrol, 0.28 for diesel and 0.27 for Kerosene with effect from Friday midnight.
Wholesale petroleum prices have also been reduced by 3.66 percent.
The ERB says the reduction in fuel prices is attributed to the general fall in international crude oil prices in recent months.
In a statement, the ERB says the reduction in international oil prices has been the major trigger for this fuel price reduction.
It however noted that the exchange rate of the Kwacha against the US dollar depreciated since the last price adjustments in April 2014 depreciated by 6.8 percent from K 5.9 per US dollar to K 6.3 per US dollar by mid November 2014.
It says the Kwacha depreciated alone would have triggered and upward adjustment in pump prices however this has been moderated by the fall in international oil prices during the same period.
The national uniform pump prices in Kwacha per litre will be Petrol at 10.38 from 10.63, Diesel will be 9.73 from 10.01 while Kerosene will be trading at 7.21 from 7.48.
Who are they fooling? is that a reduction? Nonsence
You are very right. When the price of crude goes up they increase without reference to the exchange rate . Now that crude has gone down they are talking about the exchange rate. this doesn’t make sense at all. It’s a rip off.
The International crude oil prices per barrel have fallen from the average peak of $115 to about $75 now, a drop of about 40%. In Zambia, the ERB reduces the prices by 3.6%, what a joke?? Who is going to save us Zambians MWE LESA?
This is a joke of a reduction. Please do not mock people. PF you will regret this mockery of the Zambian people after promising them more money in their pockets through cheaper fuel.
Who is responsible for ensuring that our Kwacha is stronger against other currencies? Clueless bunch..
@pipo You will never be grateful you people. PF promised to reduce on fuel. And we are doing just that. This is not mockery it is reality. You don’t just understand the dynamics of importing fuel my frend
VOTE WISELY THIS TIME . THE POWER IS IN YOUR HANDS.
It’s too late ba swine. We’ve made up our minds. You never reduced prices of anything in your three year misrule, now you think you can buy our vote with such stupid gimmicks?!
Jeez!.. this country needs books!.. I wonder how many people understand the revenue base of the government.. by the way Greece went into a crisis because when the government said it cant, some opposition said nonsense! I can do that .. vote for me!.. the guy made a disaster and now the same same people who wanted wage increases ended up going to work for free.. and they will continue to do so for the forseable future.. moral of the story: reality is diffrent from politics
I have always said, the goverment is responsible for less than 20% of your problems… the rest are yours and yours alone.
OPEC is meeting in Vienna Austria Today. A number of economists says that the increase in production is not economical, therefore they’re considering cutting down production to keep prices high. Saudi Arabia is one already considering minimize production. The members of OPEC are yet to decide whether to cut down oil production to keep prices high or to let it this way. it’s more than just ERB. whatever the case the consumer always wants lower prices, but it’s right to have a bigger picture, anyway. see link below
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@Haleisa Halelanda
Yes, we do read books in finance, economics, development finance, prudential risk analysis and other socio-political disciplines.
If you may wish to elucidate….why is there no reduction on:
mealie meal;
kapenta and beans;
cooking oil and sugar;
electricity and charcoal;
transport (mini bus);
fertiliser and seed;
school fees;
taxes (PAYE; more than a third of workers pay goes to PF govt)
cement and building materials;
chicken and beef;
blankets;
beverages and liquour?
White people control the prices of fuel so let guy rule until 2015 things will be cheap . All raw material prices are controlled in the west . If you still what to be poor keep on voting .
@Siamanego ? if you explain to me the relationship between the price of bread in 1995 when it was a less than K1 and now when it is k5 atleast. then we can engage in a meaningful debate, otherwise nibu cadre fye … prices will always have a time factor effect. any health economy needs a level of inflation ask the Japanese
Political…Still more PF ZWAAAAAAAAA OUT
My foot what mockery!!
Oh please! I expected 25% reduction. These bunch of thieves will steal big time from us! you even got the balls to announce such mockery reductions! you are infuriating us.
We know of course what has triggered international reduction, is politiks between Russian and the West! so these reduction could be temporary and once the prices bounce back we will be in a rude shock with increase in fuel prices from these bunch of crooks at ERB!
Atase wen fuel prices on the world market hav fallen by ova 40% and u go and make a k0.25 reduction,plz ba erb stop mockin us ala,hop lungu will chase sum of u wen he takes ova
hahahahaha! Ati ‘Lungu’. Thats funny!
It doesn’t make sense. its an insult to motorist. thank God elections are around the corner.
this is rubbish, ERB you’re thieves the reduction in price is nothing you can talk about, image if you are told you salary has been adjusted upwards by K0.05 per month what can you say? Fooling
!!!
This is criminal
This is what we call a cosmetic surgery. Absolutely of No value. What mockery is this? Instead of cheating people, the ERB would just have left the prices of fuel the way they are. We are living in a global village, and a reduction of from $115 to around $80 cannot translate into a 3.6 % reduction. Ba ERB, just own up and close shop. That work can easily be done by the department of energy. You are an excess baggage.
No value indeed! We just need to replace ba PF…….But pa ZED nonsense is taken as a success! PF will not take us anywhere for as long as we insist on this failed Donchi Kubeba( Let us cheat them because they are sleepy)….aaaaaaaaammmmmm Zambians!
what nonsense!
But I am not surpr?sed. The cab?net respons?ble for thee poor exhange rate ?s not work?ng but squabbl?ng. They also ?ncreased fuel pr?ces.
K?ck them out!
in Zambia its really had to survive. Such moves encourage a lot of mischief. Maule yapakilako, HIV, poverty. people get frustrated of such actions and whatever the do they just dont care
Zambian fuel is the most expensive in the region! UPND should look at reducing it further when you come into office. The PF clowns should get out with their foolish experiments and lies. They have anthing to offer the Zambian people. Voting them back in office will be voting for more of the same rot!
No need to talk too much, just propose an appeal to them to reduce further. i am sure they can do that after some further dialogue. even this reduction came in after some dialogues. chasing them is not the solution; appealing to them to reduce further is the way forward, its not like u’ve tried and they refused. development and all things nice comes by putting ideas together, if u got ideas maturely present them.
Psycho bubble crap!
Here in some EU country, the price has fallen from €1.60 to €1.25, a fall of 0.35 or K2.80. Maybe ERB thought 0.35 and 0.25 are numerically the almost similar when debased!
Haha hahahaha hehehehehe kikikikikiiki, that is my opinion.
What nonsense? If the barrel increased by 40% you could have increased pump prices by 55%; ati ERB: no interest in serving and protecting the interests of Zambians ba kolwe.
ERB you are useless people. Your analysis says that kwacha has depreciated by 6.8 % since July 2014. Now the fuel price on the international market has decline by more 36% . But you have given 3.6% reduction in wholesale price. Guys you are thieves even great ones for that matter. From these figures we expected the wholesale price to decline for at least 15%. This would have been a fare reduction given the great price decline of over 35%. You are thieves and very corrupt.
I have recorded this decrease of 3.6 % …..I will follow through to the time you will increase the price. The increment will be subjected to empirical analysis…I will catch you ERB. Don’t cheat people guys.
Peace and Prosperity to Mother Zambia.
You can’t have people making policies but wont be affected by the results of those policies. They send their children abroad for education, they are flown out for medical attention, they get free fuel, free airtime free housing, free everything and you expect them to care when you complain about the high prices of fuel and the high cost of living in Zambia. And ERB doesn’t help, they’re a cost and a problem not a solution.
Why shoul erb let to insult and decampaign pf? This is a campaign material thrown at the opposition. The PF must wake up to this fact before it is too late.
what a mockery. these ba.s.tards led by the most stupid white man
To all of you PF apologists
This is a crude joke. PF found petrol pump price at K8.91 and screamed about Rupiah’s high pump price and hoodwinked Zambian drivers by reducing it to K8.60 and within a few months raised it to K10.63 and now you apologists have the temerity and cheek to want to convince us that K10.38 is significant? This is the same old PF tactic of believing that Zambians are fools and mentally lazy so that they can’t see through this kind of lying. Give us a break please!
Surely Zambians are we going to take this PF as a party to be able to better our lives?? Being Zambia, this is ok with us because we are used to suffering according to PF. Can we continue on this path for ever? NO,NO, because we deserve better!
Very foolish ERB.I knew when they said they will reduce fuel.What role and whose interest does ERB Serve?Quick to approve increase in prices but they drag their feet when reducing fuel price.Surely even a country like Zimbabwe fuel is cheaper than in Zambia.What nonsense is this?Anyway this is very good.They are decampaining PF to go.What a mockery to motorists and the Zambian public who are travelling every minute.A reasonable reduction would have translated into a reduction in bus fares to benefit ERB.HH should look at these issues critically.Twachula pafula. 3%reduction! what foolery!!!!!!
PF Fools in self decampaining mode.You are making us more angry.Better you should have left the price as it was than fooling members of the Public like this.What a sham reduction.You decampaigned RB ati fuel is expensive @ 8 pin old money.You have made it even more expensive.You removed all subsidies to put more money in your pockets and empower fuel middlemen Ilunda Chalo/Midlands energy owned by the late serpent and Kabimba.You will account for fooling us with such lies.What a foolish reduction.Decampaign yourselves.
Pliz u learned economists make me undestand. In Zimbabwe fuel is cheaper than here Y? Do they produce their own?
am now planning to come and vote.HH I endorse you Sir.Count One vote from me.Happy Hour.
This is a mockery and an insult to the Zambians. Of what impact is this reduction on us? The truth of the matter is that fuel is still above K10 and that’s why we are crying. This is utter nonsense for ERB to play with people’s minds. Its better there is no reduction rather than insulting us in this manner. Let ERB tell us that they have failed to effect the reduction because of the mismanagement of the procurement process. The procurement process is riddled with corruption. have you thought of Ilunda Chalo, a company formed by the late Sata and Kabimba? The PF must not think that they can fool us any longer. We know their schemes. The reduction is cosmetic and meant to enable them gain some lost mileage in the campaigns. Let them know that they will not fool anyone. These are Id.iots.
What a useless Govt of FOOLS do there think us Zambians we are fooks like them. Who is going to VOTE for them?
This is deserves a Grammy Award as the Best Comedy ever in History.
Fellow Zambians, we have just been Pruncked yet again!!!!
2014 April 17
Kwacha weakness force ERB to increase Fuel Prices
Kwacha weakness force ERB to increase Fuel Prices
Apr 17, 2014 7:13 pm 41 6,942 views Email This Post Email This Post |Print This Post Print This Post
The Energy Regulation Board has announced the increment of fuel prices by an average 8.3 percent effective midnight April 17 2014.
The ERB said in a statement that pump price for all petroleum products has been increased following the cumulative depreciation of the Kwacha against the United States Dollar effective midnight.
Petrol has increased by 7.22 percent, diesel by 8.75 percent and Kerosene by 9.45 percent while the wholesale prices have been adjusted by 11.15 percent.
Atasee ishi imbwa, is that a reduction? baf****
International crude oil prices per barrel have fallen by about 40% in the last couple of months. The USD has had about only an 8% gain against the Kwacha in the same period…. I’m not an economist, but why is there only a 2% change in the pump price?
Be reasonable ERB. Stealing candy from children
HH WILL DO IT MUCH BETTER COME JANUARY 2015. THE THIEVES IN PF ARE NOW PANICKING. THESE GUYS ARE SERIOUS CROOKS. THEY ARE A BUNCH OF SELFISH GLUTTONS. TIME HAS COME FOR ZAMBIANS TO GET RID OF THEM. DON’T BE MISLED, THEY ARE THE SAME LIARS AND CROOKS. DUMP THEM AND GO FOR VISIONARY AND WELL COORDINATED UPND. VIVA HH VIVA! ZAMBIA UNITED.
”Crude oil prices slumped to a 50-month low Tuesday, two days ahead of a key meeting by the Organization of Petroleum Exporting Countries.
Benchmark West Texas Intermediate crude for January delivery fell 2.5% to $73.88 a barrel – lowest since September 2010 – while Brent crude dipped 2% to $78.10. The declines were the latest in a protracted slide that’s pushed crude oil down more than 30% from 2014’s June peak.”‘
OPEC members are scheduled to meet Thursday, at which it will likely be determined if production should be reined in to halt oil’s five-month slide . But there doesn’t appear to be a consensus among major oil producers, and if no agreement is reached, crude oil – along with gas prices – could continue to drop.
“Unless we see a meaningful cut out of OPEC,…
“Unless we see a meaningful cut out of OPEC, crude oil prices can continue to slide,” says Gianna Bern, a University of Notre Dame finance professor and principal in energy practice Brookshire Advisory and Research. “Prices south of $70 a barrel are certainly plausible.”
NASDAQ energy analyst Tamar Essner says if OPEC doesn’t significantly curb production, crude could fall to about $60 a barrel. Given higher output, more supply and low global demand, crude oil prices could stay low “for quite a bit of time,” she says.
December contracts for wholesale gas slipped nearly 5 cents to $2.02.9 a gallon. That could provide even more relief for motorists in the weeks ahead. Regular-grade gasoline now averages $2.81 a gallon, down 47 cents from year ago levels ‘
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Conclusion ERB is within 2 to 3 % reduction though the moving average over the 50 months should have been higher slightly
Its important also to relate which sectors of the economy are affected and take advantage to trade in or reduce in cost of fuel use in a most foresight manner as the horizon unfolds
These suckers should start paying for their fuel as well, no tax payers money. That’s when they will feel it. They just sit, fatten and drive in government GXs. S.hit I hope they never be at peace, like the souls of child molesters.