Fuel prices adjusted

Wed, 18 Oct 2017 10:27:50 +0000

By JUSTINA MULENGA

THE Energy Regulation Board has increased the retail fuel pump prices by K1 effective midnight last night.

Speaking during a press briefing yesterday, ERB vice Chairperson, Ngande

Mwanajiti said the adjustment of fuel prices were due to the recent increase in international oil prices and the depreciation of the Kwacha, the unit price for petroleum feedstock and finished products.

“The fuel prices have increased due to the recent increase in international oil prices and the depreciation of the Kwacha, the unit price for petroleum feedstock and finished products,” he said.

The price of Petrol has been adjusted from K11.67 to K12.97 while Diesel has been adjusted from K9.87 to K11.09.

And Kerosene has also been increased from K6.50 to K7.82 while Low Sulphur gas has been adjusted from K12.16 to K13.38.

Mr Mwanajiti told a media briefing today that the board would continue to monitor developments in the exchange rates and international oil prices. Mr Mwanajiti said the board would only adjust fuel prices every 60 days when there were changes in the wholesale prices. He said the fuel pump prices had remained stable and constant between January and August 7th 2017.

He further said that ERB would continue to monitor developments in the exchange rates and international oil prices.