The Energy Regulation Board (ERB) has adjusted the price of petroleum products by K 1.14 for petrol, K 1.00 for diesel, K 0.71 for kerosene and K 0.99 for low sulphur diesel.
The new prices will now be K .74 for petrol, K 7.59 diesel, K 5.40 kerosene and K 10.88 for low sulphur diesel effective midnight of 12 May 2015.
Explaining the increase, ERB board chairperson Pastor Geoff Mwape said the two factors that affect wholesale and pump fuel prices are the international oil prices and the domestic exchange rates. The international fuel prices have remained stable during the period under review while the exchange rate has been volatile.
“This adjustment is mainly due to the volatility of the kwacha which resulted in the significant adjustment of the kwacha against the United States Dollars. Since the last adjustment in January 2015, the kwacha has ranged between an average of K 6.5 per dollar and K 7.42 per dollar in April 2015. During this period, the kwacha reached an all time high of K 7.8 per dollar,” Pastor Geoff Mwape said.
Pastor Mwape said periodic price adjustment are essential to ensure that there is full cost recovery in the supply chain, and thereby ensure that there is enough to procure future petroleum feedstock cargoes and finished petroleum products.
He added that future price adjustments will be dictated by changes in the key fundamentals. The ERB will endeavour to automatically adjust so that cost reflectivity is attained for each and every petroleum feedstock cargo and imported finished petroleum products.
The last increase in petroleum products was in April 2014. Between this period to date, a number of fuel reductions were affected, mainly as a result of falling international oil prices and a fairly stable kwacha.
We saw it coming next it will be mealie meal.
all pipo have some percentages of madbess but some are highly mad than others u will hear them loudly pabwato even when the economy is on irs knees
I THINK ZAMBIANS REALLY LIKE FREE THINGS. SO IF THEY SAID ITS FREE THEN THEY WOULD BE DARLINGS? LIFE ISN’T JUST THAT WAY!!
This means more money for Minster, Directors and PSs who get 700 litres of fuel per month in cash.
Ifintu ni Lungu, higher fuel prices
How many times was this pathetic govt told to reduce the prices when the oil was below $50/barrel?All they were interested in was fighting for presidency of the pathetic party.NEXT ALL PRICES OF COMMODITIES WILL GO UP.
Now all you gullible and docile voters from kopala,bemba land and your foolish cousins from the east,I WISH YOU IFIONTU NI LUNGU.
@red square, your stupid language and tribalism won’t make you win in 2016. Stop being useless for once
@Ayebo
What did you see coming?
Why bother yourself over everyone? Does it mean if you can’t afford it then everyone can’t afford it?
Remember there are special filling stations, schools and shops for us in PF where prices are very low or heavily subsidized! Where do you think the loans we are contracting and concealing are going? We share, we plunder. So when we go to buy fuel, goods & services do you think we feel the pinch?
Stop complaining. If u can’t beat them, join them, I mean us. We can’t share with you when you are on the other side. There is enough room for everyone who supports us and therefore your cake is waiting. But it may not wait for you longer than necesaary!
This is the PF slowly show its true colours.. There are tough and hard days ahead coming for Zambia before 2016..
In economics, we say, the bubbles are beginning to burst and sooner than later, it will be high food prices and maize shortage due to the visonless leader the country has who has no plan for his followers….
Zambians should learn how to vote wisely if they want the country to move forward… The country will remain poor and backward for as long as you continue being led by visionless politicians who just aim to please/benefit themselves and those close to them…
seems some people enjoys negative development eh! u seem to speak with satisfaction…u are happy?
@ German Manchinery you wish “Zambians should learn how to vote wisely if they want the country to move forward…” its a challenge that most voters think is difficult to attain as most minds have no analytical capacity that your wish only refers to the presidential election and not other governance officers.
So govt is sure they will fail to improve the kwacha otherwise they could have stopped the increase in fuel prices.
why was the reduction in fuel price here in Zambia so low when price of crude on the world market was plunging like hell?
I WANT TO SEE THE HYPOCRISY OF THE BUS OPERATORS BY THE
TIME THE PRICE OF FUEL GOES BACK TO WHERE IT WAS LAST
YEAR. THIS IS IN RELATION TO THE FARES.
Spot on. They never reduced bus fares in relation to fuel.
@ Real the simple answer is the depreciation of the Kwacha
So bkb, why is the Kwacha depreciating?
NO THE ANSWER IS IN POOR ECONOMIC MANAGEMENT BY THE CURRENT PATHETIC GOVT.WE ARE NOW A MARKET SOUTH AFRICA ,CHINA AND MIDDLE EAST.
HOW DO EXPECT TO SUSTAIN THE ECONOMIC IF YOU ARE NOW A CONSUMER?
NOW CAN I HEAR YOU IDDIOTS SHOUT PABWATO PABWATO AGAIN
Pa bwato for life.
Seems good number of people in zed will diagnosed with depression next year after election results..
PF IDI0TS! FAILED STATE! CAN’T COME BACK.
Come back and give the country strategies it requires for sustainability.
It will be reduced next year as we draw close to the elections.
No hypocricy about bus operators, it is you stupid PF embiciles and crooks,embezzlers,selfish PF running the country, no hope, povertyin Zambia is catastrophic high.
To be fair it is the world price around US$ 1 per litre, its just the kwacha has gone down the toilet.
well done erb, infact this has come too late. only bus owners benifited from the reduction. hold on you all bus opperators, dont even try it. you robbed the voters ,the very users of your buses. its nice that prices are up. you bus opperators you have forced this imcrease because you totally refused to reduce fares. ba misova apa pena. congrats erb.
Bus operator don’t reduce the price.weldone boma
i feel the government has the right to increase fuel prices since doesn’t produce crude oil and Zambia doesn’t regulate the US dollar of which prices are quoted even if it was your preferred candidate HH, he would have done likewise.
Ifintu ninani? Ifintu no lungu ha ha ha ha ha ha ha ha ha! Not even rupiah banda can help him without Felix mutation and situmbeko musokotwane. Elo lwanya bomb a
Who is responsible for the fuel price increase? The depreciating kwacha. Who is responsible for the depreciating kwacha? The govt. So who is responsible for the fuel price increase? The govt!
Motor mouths! Running your mouths again. You lost and until such a time when everyone gets tired of PF including the vocal church of the World (the Catholics) with their famous pastoral letters,you are stuck with PF. Live with it otherwise wait until its your turn. Right now, its EL’s turn.
Ifitu ni lungu,HH Zambia forward, it takes for meaningful Zambia who can not wish this disaster to repeat itself in our beautiful country Zambia. In eastern Zambia we are behind HH for a better Zambia. we don’t care where he comes from as long as he can deliver to the people of Zambia
We shall see the reaction of bus operators coz wen fuel waz reduced they refused to bring down bus fares now that it has been increased what next?if govt bore to pressure from bus operators to increase bus fares then il take it its a stupid,confused and useless regime run by *****s
I am missing a song I havent heard in a while “donchi kubeba wilalilala ashhh” love it
Voting wisely is voting for people with civil service experience not a novice without even diplomatic etiquette with a plastic smile symptomatic of his inner ‘self’! If most of ‘you’ arm chair critics were contributing positively to the economy( than just sending peanuts to your relatives), the scales would tip to a stronger economy. Examine the most fingers pointing at you and what points at the gvt!
Zambian economy adjusts to external shocks and to a lame economy dependent on mineral exports with a population anchored on omniscient government support.Atleast the changes show that we don’t have a controlled economy. The Kwacha’s upheavals are not alien to Zambia alone but to our belief to global machinations and price adjustments are symptoms of our overall input!
LETS SHOUT UBWATO AGAIN BAFFIKALA
Stupid *****s, they were reluctant to reduce the prices when the international prices for oil went down and only did so after so much pressure by motorists. What a failed state indeed. They only reduced for fear of being booted out of govt, we will see you next year 2016 and this time around my entire family are going to vote.
POOR REPORTING
Petrol is K8.74 and not K.74 extremely embarrassing. Employ competent staff!