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Alba Iulia
Monday, June 27, 2022

Energy Regulation Board reduces the fuel pump prices by K2.35 per litre

Economy Energy Regulation Board reduces the fuel pump prices by K2.35 per...

The Energy Regulation Board has revised downwards the fuel pump prices by K2.35 per litre for Petrol, 58 ngwee per litre for Diesel and 56 ngwee per litre for Kerosene.

ERB Board Chairperson Reynolds Bowa says the price movements have been necessitated by the recent trends in international oil prices and the performance of the Kwacha against the United States Dollar.

Mr. Bowa said world Crude Oil prices recorded a downward trend mainly on account of the drop in China’s demand for oil due to new Covid-19 restrictions.

He added that during this period, countries with oil reserves intervened by offloading stocks onto the international market consequently and this helped to relatively stabilise the global prices.

Below is the full press release

23 COMMENTS

  1. Why do like lying? Nothing has changed. Dollar is still high and there’s still war in Russia. Fake price reduction. Next the will be k30 per litre

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  2. What we require is stability because any fluctuation irrespective of which direction still affects us. Let me put it this way. An OMC that sells 10,000 litres in a day would lose K23,500 in revenue per day unless they increase their sales volume by 1,000l. Nothing has fundamentally changed in the economy to cause that change. Wages, rent and other expenses remain the same as they can’t be reversed so how do they makeup for the revenue loss? Our economy is like a seasaw and that’s why we don’t notice any tangible changes even with good statistics. Stability will benefit all of us. GRZ must quickly reopen Indeni so that bulk fuel procurement can help stabilize the price for at least 6 months per period

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  3. I wouldn’t mind seeing the calculation that ERB uses to get to these prices. Now they just state the new prices but nobody knows how they did it. Transparency? I haven’t forgotten how the ERB was manipulated by Edgar China Lungu and his band of corrupt cronies

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  4. Ayatollah, you cannot have stability if the oil price keeps on fluctuating on the international market. Until the geopolitical situation improves, I am afraid this will be the way of life.

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  5. When they reduce the the fuel price the reduction is very little
    But when they increase The price
    It is by a big margin. All this head
    Ache for ERB and Zambians so
    Try to review prices quarterly or
    Every six months.

  6. Those not interested in buying fuel at the reduced price should continue paying K26 at the filling station. Us, we are excited with the reduction

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  7. @Didi Na Tolo or Toyo: So the whole world shd pay high prices in oil jst becos 1 country in the name of Russia is at war?. Russia is at war with itself,our countries have to move on with other willing suppliers that are not war with themseleves. Besides,let me educate you, Russia is not the largest oil producer in the World,its not even the 2nd either. Its the third.The USA itself is the largest producer, followed by Saudi then Russia. Russia can easily be outdone by combining only 3 or 4 countries on bottom positions e.g Iran,Iraq,Oman, Brazil, Canada including our own Libya,Nigeria & Angola.So there is no way that prics will always be high-never! Cos then these countries i mentioned will take advantage of situation & up their game,so infact sooner oil will only become very very cheap as…

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  8. The only concern with the current monthly fuel reviews is that commodity/food prices as well as transport costs are not adjusted correspondingly. They keep going up and inevitably forcing critics to continue putting pressure on government.

  9. Like HH said “Problems in many aspects presents opportunity to those who are not stupid”. But if you are also a fool like Didi,then you will die a fool together with your Russian oil cotrolling the world hallucinations. There is no Russian oil that can control even Ukraine itself that its at war with. But Poor black Africans want to believe that Russian oil controls the world(third producer) shouldnt it be American oil or Saudi oil atleast. To prove you wrong further: Have anyone here heard of Load shedding in Europe since this war began? Because thats what it means right? No oil,no energy,no power? But Europe(The only true beneficiary of Russian gas) has continued functioning normally with no black -outs!

  10. So why are Black people in the jungles of Africa making this a topic? If anything, If we combine the oil reserves in Libya & Nigeria alone they outdo Russian oil Supplies or reserves. Let alone,i dont know of any African country that directly buys oil from Russia,is there is one, who built those pipelines-World Vision or USAID?

  11. @Ayatollah, you’re assuming that OMCs are selling the fuel at a reduced price while their landing cost has remained the same. That’s wrong bwana.

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  12. Hahaha upnd think were born yesterday. Playing econometricks. Just accept your have failed. When you over promise you are bound to fail. You have a president who just rants during press conferences without telling us his plans of action. Useless cow

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  13. Is the military war in Ukraine over? Were we not told it is the presistent reason for the increment? Can’t the ERB be scientific by providing mathematical evidence how they arrived at either the reduction or increment of pump price?
    Zambian’s own petroleum energy comes from the Middle East costing about $1.5 bn per year. All that is public tax payers money and Zambians must know about calculations for the pump price to minimise murmering and grumbling.

  14. You should try your best not to take anything trolls say seriously. No matter how poorly they behave, remember these people spend countless unproductive hours trying to make people mad. They’re not worth your time of the day.

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  15. Kwacha appreciated from K18 to K17 that resulted in this reduction. If kwacha appreciates further next month there will be another reduction. If kwacha remains the same the price will remain the same and if kwacha depreciates then there will be an increment. It’s not rocket science.

  16. IT IS ROCKET SCIENCE TO SOME
    THEY JUST DONT UNDERSTAND
    THE WORLD IS IN TURMOIL AND WHETHER WE LIKE IT OR NOT WE ARE NOT AN ISLAND
    A REDUCTION AT THIS TIME IS WELCOME BY MOST IN BUSINESSES
    WHETHER COMPANIES OR OPERATERS REDUCE PRICES IS NOT GOVERNMENTS PROBLEM
    WE IN A FREE MARKET WHICH MEANS YOU MUST SHOP AROUND

  17. Guys all of you here with sober minds, i urge you when you explain things, pls know and remember that you are explaining to us-the other sober minded people. Do not waste your time to please PF cadres who brought us the Debt. Imagine if we had no Debts to service,we could even have had our own Oil produced in Zambia. We could have had our own car manufacturing plants with the money we paying back on debt. Zesco wud ve been a pure net exporter,Zamtel, Zampost, ZRL,ZRA etc. So, they left us a debt and non of all the Parastatals is functioning normally? which means its more than the debt amount we owe cos clearly all these parastatals are not functional-they still ve to be largely fixed too.Then what really was the purpose of PF in Zambia? Just what? Even those malls, roads & Hospitals are…

  18. @14_De Juvu
    I am laughing at your humour.
    When the combat resumes the price will reach K30 per litre. God help us.

    We are lied to, that the appreciation of the Kwacha necessitated for fuel reduction. For how long will the currency hold? If the currency drops tomorrow, will the fuel price increase? Something is not making sense. Full of jokes.

  19. People don’t seem to see the psychological impact of economics. Reducing the price at this stage after increasing it is negligible because the price increase has already fed into the prevailing cost of goods and inflation because these won’t come down ever in tandem. What this means is that prices of public transport and its multiplier impact on goods and services which is already in effect despite the price reduction. Prices go up but never come down, that’s why this method of pricing fuel is detrimental to planning by households and businesses. So nothing to celebrate.

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