Board (ERB) offices
The Energy Regulation Board (ERB) says the price of Oman and Murban Crude on the international market has reduced to US$86.91 and US$87.95 from US$108.16 and US$110.61 per barrel respectively.
ERB executive director Langiwe Lungu says that this translates into a change of 19.65 percent for Oman and 20.49 percent for Murban for the period of June to October 2014.
Ms Lungu said ERB determines the price of petroleum products using the cost plus model on a cargo-by-cargo basics further stating that the analysis of the latest cargo is under way.
ZANIS reports that the ERB Executive Director said this in a statement in Lusaka yesterday.
She said ERB takes cognizance that stakeholders are anxious in the face of price changes on the international market.
She assured that once the analysis has been completed the findings will be escalated to the ERB Board who will make a decision on the pump price.
Useless!!! What analysis? the price for crude oil has been reduced, there is nothing to analyse, just reduce the pump prices.
very quick to increase prices but to reduce eh! they want to steal steal until they’re tired these thieves.
This system of stealing is a very bad habit in Zambia and more over every body or nearly every body in zambia is a church goer,church goer in that they do not fear God but their pastors recieve stollen money for they pastor not all are judases.What a christian nation
these boards are just thieving from us. What a shame. You don’t even feel ashamed to make such statements? Even a lay man knows fuel has dropped on international market yet you can’t act. Days are number. You wont work at ERB forever
useless ERB, You are bunch of thieves, just reduce the price. what analysis are you talking about? we know what cost plus pricing is all about—stinking thieves
What analysis do you ever analyse when the price goes up….what have you been doing from June? creaming off all the profits for your allowances and company cars. No wonder Kabimba chose to go quietly as he is eating big time.
Zambians wake up from your docility and passivity for once and stop discussing these issues in bars and taverns after 10 beers.
wake up! !
Just imagine, they are not even ashamed to say that prices of crude oil started reducing in June 2014 and yet they have been quiet until now when citizens have started complaining openly! What a useless government.
Imwe what analysis? How come ? when are you people going to stop stealing? We are fed up!!
ERB has a history of being reactive when oil prices are adjusted upwards. They do not undertake any technical or whatever analysis to determine the need and margin to increase. Why then do you need an analysis when prices are adjusted downwards? I think the analysis is a waste of time meant to protect the interests businessmen in the industry for whom the ERB was created, not Zambians.