The Energy Regulation Board (ERB) has threatened to close down Oil Marketing Companies (OMC) and service stations that have not reduced fuel prices that came into effect at midnight, Tuesday.
This follows complaints from members of the public that some OMCs and service stations have not reduced pump prices.
ERB Senior Manager Consumer and Public Affairs Fred Hang’andu says the energy regulator is concerned that service stations have in the past been quick to adjust prices when there is an increase, but very slow to do so when prices are reduced.
Mr. Hang’andu says ERB has since dispatched inspectors to monitor adherence to the directive made on Tuesday to ensure that rights of consumers are protected.
He said failure by OMCs and service stations to reduce the pump price constitutes a violation of license conditions which attracts sanctions which include closure.
Mr. Hang’andu said this in a statement issued to ZNBC News in Lusaka.