Wednesday, April 17, 2024

Fuel pump price jumps to K26 a litre

Share

The Energy Regulation Board (ERB) has adjusted upwards the pump prices of petroleum products by K4.54/litre for Petrol, K4.68/litre for Diesel and K3.93/litre for Kerosene.

ERB Board Chairperson Reynolds Bowa says the increase in pump prices is due to the continued strain in global oil supply mainly due to the geopolitical conflict between Russia and Ukraine that has exerted additional pressure on the already escalating oil prices on the international market.

He said these developments have heightened the demand for petroleum products and have increased the cost of importation,

Mr. Bowa explained that prices of finished products on the international markets have gone up steeply and continue to trade above US$ 130/barrel, while on the domestic market, the impact would have been more adverse had it not been for the resilience and marginal appreciation of the Kwacha against the United States Dollar, during the review period.

31 COMMENTS

  1. Praise team we need a better song.
    The one with the chorus ?is the war on Ukraine ?? people won’t believe even kids know it’s not true. Stanza 1 should be ?its the PF doing ? ooohh.. Then stanza 2 ??Its} pppfffff corruption.. Yoyo and chorus PF increased this its still PF budget lalala yoyoyoyo?????This people will believe

    18
    1
  2. Praise team we need a better song.
    The one with the chorus ?is the war on Ukraine ?? people won’t believe even kids know it’s not true. Stanza 1 should be ?its the PF doing ? ooohh.. Then stanza 2 ??Its} pppfffff corruption.. Yoyo and chorus PF increased this its still PF budget lalala yoyoyoyo?????This people will believe

    10
  3. You f00Iish Zambians who voted upnd deserve this and to suffer. We warned you but you thought you were clever.

    18
    14
  4. JUST SHOWS THE MENTALITY OF SOME BLOGGERS
    JUST SPEWING GARBAGE
    ZAMBIA HAS HAD 57 TEARS OF SUBSIDES AND GONE NOWHERE
    ONLY TO INCREASE THE NATIONAL DEBT TO UNSUSTANABLE LEVELS
    DONE BLAME THIS GOV
    THANK UNIP MMD AND PF FOR THE MESS

    4
    19
  5. TIkki you are a very big fool. Ukraine has nothing to do with fuel increase. Can you mention a country that has increased fuel because of Ukraine-Russia war.

    A failed government. I am glad that even fools who voted for upnd are feeling it.

    8
    4
  6. #5 Tikki so we should not complain? Your president was voted in on the premise of reducing dollar Kwacha exchange and fuel price by 14hrs after being sworn in. And you are saying we can’t complain… when you and your president told us that fuel in Zambia was the most expensive in the SADC region.

    12
  7. Spaka and Tarino Orange have vanished in thin air……I was thinking of moving to Zambia and start doing my UBER now am scared…..K26 fuel…..mamamama chipante pante

  8. Just been reading Dr M’membe’s article on the fuel price hike. To my disappointment 90 percent supporting the hike are from one province.

    7
    1
  9. Yes we can blame the russia-Ukraine war for the fuel increase but let us also take stock if where we went wrong. There were too many who were fired involved in the procurement system some if whom were innocent and understood how the system worked. It premature to close indeni before we knew exactly what we wanted to do. When this war came the shock is too much for us who are still learning on what we should do. You can tell this from what the minister is saying with his June projection and indeni plans to start blending petrol. June is too far

  10. It doesn’t make sense because covid had worse effects on the economy and we didn’t see an increment than the excuse of war. New doom gov’t

    7
    1
  11. Useless government…I don’t understand we the owner of land and punished by a heartless government while mining companies are on tax holiday bullsh.it..

    7
    1
  12. At least my vote was not WASTED on hypocrites. Taking advantage of the Russia / Ukraine war while dancing to IMF. Some dallo ones still praising malabishi

    7
    1
  13. Ukraine excuse is not a good one. Fuel started increasing before the war.. Let’s use PF corruption excuse. This is a good one and that’s what people want to hear

  14. When Kambwili said it was global Upnd had a counter answer. Now it’s Universal is the Clarion call by Upnd. Don’t criticize when you don’t understand the problem.

  15. How will Zambians survive with these increments?Bally stop focussing on increasing CDF and employing 30000 workers but concentrate on maintaining
    Fuel prices and inflation.Remove tax exemption from mines to pay for fuel hikes.

  16. TO ALL WHO SAY UKRAINE – RUSSIA WAR HAS NOTHING TO DO WITH THE OIL PRICE REALLY ??
    OK EXPLAIN WHY OIL JUMPED FROM $90 tom $130 NOW SLIGHTLY LOWER
    ALSO WHAT COUNTRY HASNT INCRESED THE FUEL PRICE
    COMPLINING CAN BE JUSTIFIED IN A SMALL DEGREE
    BUT LOOK AT WHERE WE ARE AND WHERE HOW GOV IS TRYING TO RUN THIS COUNTRY AND REDUCE DEBT LEVELS

    6
    7
  17. This is the time govt should consider re inroducing subsidies…to some extent yes the russo-ukraine war has contributed to this ugly hike at the pump…oil is traded in dollars on the international market and the fact that russia is the worlds second oil producing country this is a global catastrophe.

    6
    1
  18. we are in for it and no where to go.. is there any any plat form where we can voice out our concerns and these sacholies hear us because 5 years is far and someone has to be explaining one or two issues from the gvmnt to make us believe that they know what they are doing.. other wise we will end up developing this habit of insulting as part of us inside mweeee.

  19. The price of diesel iin the UK is £1.67 per litre. This is due to the war in Ukraine. The effects of the war are slowly being felt across the globe. Ukraine and Russia account for 25% wheat exports on the world and fertiliser is mostly from Russia. The effects on food are soon going to be realised.
    So Redo go the any bank and get the exchange rate and you will wonder how the fulel in Zambia is still lower than K30

    1
    1
  20. @Nonobo
    Stop trying to explain to the illiterate on here
    They haven’t a clue on world commodity prices most think Zambia is an island

  21. NEW DARK DOOM GOVERNMENT IS WORD, A FAILED PROJECT CALLED UPND..where is the famous calculator they used to talk about on how to easily reduce the fuel price when PF was in Govt?

    1
    1
  22. There are 196 Countries in the world so a semi war between two countries can cause the price of fuel in a far distant country to skyrocket? Let us do a simple comparisons with our neighbor for example how much was fuel before war and how it is now in Namibia, Botswana?

  23. Someone is telling me that it’s too early to judge the Upnd Government.
    I’m telling someone that it’s too early to make such costly mistakes by the Upnd Government.

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading