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Change mechanisms used to determine fuel prices, says energy expert

By SENIYA BANDA

MECHANISMS being used by the Energy Regulation Board (ERB) in determining fuel prices should be changed, says energy expert Boniface Zulu.

Recently, the ERB announced the increase in fuel pump prices by K1.80 per litre for petrol and K2.37 per litre for diesel.

Mr. Zulu said there was need to ensure that the local fuel prices tally with the international markets oil prices for the benefit of the consumers

He said this is could be done through the review of the tax waiver by increasing it to line the local prices with the international trends.

Mr. Zulu said there was need for Zambians to benefit whenever there is stability in the prices of oil on the international market.

Currently, oil on the International market was trading at $115.09 per barrel.

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