The Energy Regulation Board (ERB) has reduced the pump price of all petroleum products effective Tuesday midnight tonight.
ERB Board Chairman Francis Yamba has announced that the price of petrol has been reduced by K1.20 and will now be selling at K12.50 from the K13.70
Professor Yamba further announced that diesel has seen a reduction and will be selling at K10.70 from K 11. 40.
He said the price of Kerosene has been reduced by K1.22 and will be selling at K6.81 from K8.03.
Low Sulphur Diesel has also seen a reduction of 68 ngwee and will be selling at 13.01 from 13 .69.
Professor Yamba attributed the price reduction of the petroleum products to fundamentals such as the exchange rate
He added that ERB will continue to monitor and review the pump prices according to the minimised consumer shocks.
Professor Yamba was speaking at a media briefing in Lusaka.
Below is the full statement