A Lusaka based business consultant Stanfford Linzu said the fuel reduction is minimal and insignificant to positively impact consumers and the general public.
Mr Lizu urged ERB to strive to reduce fuel prices by significant margins prices if the Zambian people are to benefit from fuel price reduction.
He pointed out that bus fares and prices of essential commodities are not likely to go down.
However, Zambia Bus and Tax Workers Union President commended the ERB for finally effecting a long overdue fuel reduction.
Mr Lyambai said Zambia has the highest price of the fuel in the sub region and hoped for meaningful fuel price reduction.
And Public and Private Drivers Association of Zambia has praised the Energy Regulation Board (ERB) for reducing fuel pump prices with effect from Friday midnight this week.
In an interview with ZANIS, Association President Josiah Majuru welcomed the move as it will trigger a reduction in the cost of living through reduced bus fares and prices of some essential commodities.
The Energy Regulation Board yesterday announced in a statement the reduction of fuel pump prices by K 0.25 for petrol, K0.28 for diesel and K0.27 for Kerosene with effect from Friday midnight
Wholesale petroleum prices have also been reduced by 3.66 percent.
The ERB said the reduction in fuel prices is attributed to the general fall in international crude oil prices in recent months.
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 10.38 for petrol from 10.63, Diesel will be 9.73 from 10.01 while Kerosene will be trading at 7.21 from 7.48.
Good one – K 0.25 for petrol, K0.28 for diesel and K0.27 for Kerosene I guess is on mealie meal.
I thought I heard HH say fuel price ought to be reduced….seems like he knew what he was talking about
its minimal when you are buying K50 petrol for a toyota hilux.
Globally, oil prices are down, so why shouldn’t Zambia follow suit?
You are so used to hikes, you are disputing a reduction. Third world mentality.
The gvt should be controling bus fares, because people will not benefit but only bus drivers and conducters,
That’s not a reduction, but actually a mockery by the pathetic foools government.
This reduction is nothing and I am surprised that some groupings are praising ERB for the mockery reduction. The price of fuel, even after the so called reduction will still remain above K10. So what reduction are they talking about? This is just a political gimmick. The fuel procurement process is riddled with corruption and this is what is causing difficulties in effecting a reasonable reduction in the fuel pump price. The PF should not think that people are stu.pid to accept this foo.lishness. Of what significamce is the current reductions? In any case the PF is just insulting everyone. We are tired of this mediocrity and in January 2015 we will get rid of this useless government of thieves.
That’s true, imagin,South Africa had reduce pump prices almost 3 times, this reduction is an insult to us.
THIS IS TRASH.THIEVES
Why not just say there is no reduction in the prices
Oil price is down by 35% and our fuel price goes down by 3% ??
Someone is STEALING here!
Or are missing Millions going to pay for Satas MEDICAL TOURISM and his family tours?
The agenda is to use this reduction as a campaign material by PF. We have reduced the price of fuel. We have reduced the price of fuel, we have reduced the price of fuel……..by how much? No, we reduced the price of fuel…….These Donchis are just failures and we have to move on to another level and leave them with their animal driven constitution. Now one among all of them have Sata’s vision because he never prepared anyone to take over, hence 10 – 1 =9 candidates for one position. There is no togetherness because their father is gone!
Reductions per se in pump prices for fuel sends a positive signal to the consumer and to the investor. Are you arguing that increasing pump prices is better than reduction of pump prices? If that is your argument, then provide convincing reasons to support your argument. Stop confusing the reader by making personal opinions appear scientific or technical.
This kind of reduction is better left un-announced or not even effected. just imagine that out of 10 litres you only save K2.5 which is supposed to be saved on 1 litre, this is mockery. It won’t even affect the prices of other commodities. I’m surprised that Dr. Makasa Kasonde wants to talk about technical and scientific things but there’s nothing like that on this matter.
5tupid, use calculator if your brain is infected by “yes boss” syndrome.
To day Oil prices are 35% down on June 2014 levels.
“Adjustment” its ONLY 3%. Where other 32% are gone? Excise Duty and Import Duty are calculated in % of the base price.
More money in PF pockets?
It is a realistic reduction. If oil prices jump back up we can still sustain our reduction. Simple economics. And these bloggers are the so called Economic Managers from UPND with business acumen? pathetic scum of the earth.
Go back to the cave. Nothing to do with any other party but your masters.
You are just brainwashed and 5tupid slave to your laying and thieving masters.
Country men & woman let us all unity so that we remove this useless GOVT evrything in the country only them who can afford bcoz of our taxes we pay.
For PETRO what is 25ng sure can that be called a reducation in which caring GOVT? is that HEAVEN on EARTH?
TRUE KALAS OF PF.
I am failing to grasp the mathematics behind this reduction. Global oil prices are down 20%, while the Kwacha has depreciated by 7%. Simple mathematics suggests the reduction should therefore have been by more than 10%, not this 3% being announced. ERB economists are full of it, or someone is pocketing the difference
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
That pipeline to Angola keeps looking better and better every day.
All political acrobatics, foolish.