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Alba Iulia
Wednesday, August 10, 2022

Fuel Prices Go up as inflation reaches single digit in three years

Headlines Fuel Prices Go up as inflation reaches single digit in three years

The Energy Regulation Board (ERB) has increased fuel pump prices by an average of K2.01 for petrol and diesel.
The pump price for a litre of petrol has gone up by K1.80 or by 7.21% while a litre of diesel has gone up by K2.37 or by 9.24%.

The ERB has also increased prices for a litre of Kerosene, a commodity mainly used by the poor, by K2.51 or 13.8%.

ERB Board Chairperson Renolds Bowa has attributed the adjustments to an unprecedented increase in the price of petroleum products on the international market.

Speaking at a briefing this evening Mr Bowa said the recorded increase in international oil prices was mainly attributed to a combination of factors among them the Russia – Ukraine War.

Meanwhile, Zambia’s inflation rate has hit a single digit for the first time in almost three years.

Zambia Statistics Agency (ZAMSTATS) Acting Statistician General Mulenga Musepa has announced that June’s annual inflation rate has dropped to 9.7 percent from 10.2 percent recorded in May 2022.

Mr. Musepa said that prices of goods and services on average increased by 9.7 percent between June 2021 and June 2022.

Mr. Musepa attributed the move to movements in prices of food items such as Cereals, Meat , chickens and vegetables.

Mr. Musepa further pointed to non food items such as clothes, vehicles and charcoal among others.

Briefing the media yesterday morning Mr. Musepa also announced that Zambia’s trade levels between January and May this year dropped to K146-million from K148 million the same period last year.

58 COMMENTS

  1. I’m sure if it was Lungu in power the war in Ukraine was just going to be a lame excuse by a failed government.

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    • If your absentee inept President Lazy Lungu was in govt the situation would have been worse get that in your head. By the way annual inflation rate has dropped to 9.7 percent from 10.2 percent recorded in May 2022…I know you are only excited with the opposite of good news when it comes to this govt

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    • Tarino Orange…. your president told us lies. Just look at the retirees saga… money is released we’re told but the people haven’t seen this money yet. Lungu is not there anymore and you promised to do better. Better means to increase prices.

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    • Deja Vu – You mentioned the inept Lazy Lungu and I was just jogging your memory …remember how high price at the pump was in Zambia during the pandemic yet crude oil was at an all time low? Oil producing countries were literally giving it away

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    • Yet you are the same chaps that sing everyday that Lazy Lungu has worked hard building infrastructure…really laughable…you think he build all that with funds generated from the economy? They contracted loans left right and centre though Chinese Exim bank at grossly inflated figures so they could cream off the excess.

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    • Tarino Orange never in my entire life have I praised Lungu and never will. In fact whatever Lungu built came from my money so why should I praise him. Bone of contention is you guys told so much lies of what you were going to do for the nation in hours.

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    • Which guys am I? My party is Zambia..for someone who claims not to vote you sure know about the promises…if you believed HH7 was going to sort out the economy in matter of hours then you’re very naive and gullible.

  2. I do not understand the relationship between fuel going up and attaining single digit inflation. Someone help me understand it please!

    • Fuel goes up. Government happy, keeps profit and doesn’t spend it, raises liquidity ratio. Inflation go down

  3. Bally I think is still pissed off for the 5 times rejection he suffered before August 2021 General elections. He wants a revenge on Zambian electorates. I doubt if he’s got any empathy for us.
    Many of you took the slogan Bally will fix it literally, No! It was a figure of speech to come and fix us. NIPANO TULI!

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  4. The promise of cheaper fuel is seemly a long way from all the indications obtaining, they’ve now realized that running business and running a country are two very different things and the next president and party to ascend to power should be learning very valuable lessons from KK to HH and do a better job – those with eyes and ears should pay close attention and never repeat the same mistakes we have had since 1964. I rest my case.

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    • Very true. We should have learned from that racist fool Trump. Business and economics are different. You can be very successful in one and a big failure in the other

    • Remember we were told by Upnd that at 17kwacha per liter ZAMBIA had the most expensive fuel in the region.

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    • Chishamba Kambwili economics bwana? Mealie meal in UK costs 8 pounds for 2kilos, a pound is 20 kwacha and therefore, mealie meal is cheaper in Zambia.
      LoL.

  5. Mwa Pungwa ilekoselako fye. From the promise of K4 to K26. Ok, there are lie in politics but this is at another level.

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  6. If you think zambia produces oil…………

    Then yes , zambia should not be affected by world events in oil producing countries………

    If you know zambia does not produce oil and expect prices to be untouched by world events , we suggest…………

    You urinate in your gas tanks…….

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  7. This inflation figures are fake!!! The whole world in experiencing high inflation. Uk , South Africa,Kenya, India, German, USA and many other countries are experiencing high inflation increasing fuel and food prices. It is strange that only Zambia is having inflation going down into single digit. In the meantime despite inflation coming down, food prices, and fuel prices are not coming down but keep going up. Is this real?????

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  8. Why has Bally the lecturer on how to reduce fuel price left this role Reynolds. Reynolds is now fixing us on this price of fuel…..

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  9. Ati wait and see what we do with the economy. He was even licking his ugly lips whilst saying that. Only fooIish people believed that a man who had never held public office would make their lives better. Today you are worse off and many are now realising how good and tough ECL was.

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  10. Yes inflation can hit a single digit because this kamflumende is not spending money in the economy. This is one factor that leads to inflation going down, BUT HOW MUCH HAS THIS COUNTRY LOST IN TERMS ON INVESTMENT BECAUSE THEY ARE NOT SPENDING AND JUST COLORING FIGURES? IT WILL TAKE US ANOTHER 2 YEARS TO RECOVER FROM THIS ECONOMIC STAGNATION.

  11. To justify this inflation rate, how much is cooking oil, mealie meal, fuel, sugar today as compared to the same day last year? These politicians think we are stup1d and there are people supporting this rubbish. Mr Hichilema have you lost that formula you presented on reducing the price of fuel?

  12. Russian invasion hadn’t started last year
    Thats the reason for the price hikes now
    Most on here have zero or very little knowledge on the influences world markets have on Zambia

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  13. When you undertake calculations over the prices increases of fuel at the pump in UK you will find that the big chunk of the price goes to the tresuary …it seems govts around the world are using the war to justify increases when it has nothing to do with it. Most govt are using it as an opportunity to raise funds after the were depleted during lockdown and the pandemic.

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  14. TO FUSEKE WITH YOUR
    VILLAGE MENTALITY OF COURSE YOU WOULDN’T UNDERSTAND WHAT HE IS TRYING TO PUT ACROSS

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  15. kkkkkk forward in everything fire the entire ERB because these people are suppose to bring solutions and not misery to the common man.They work like robots its time ERB has to think outside the box,4get about those lame excuse of Ukrane and bring solutions to the problem. kkkkkkk

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  16. I’m told that our beloved HH has, 4 the last 9 months, been frantically looking for the displaced excel sheets which had formulae he had been using to calculate cheaper fuel prices during his opposition days. So country men & women let’s just be patient, when he finds them he’ll implement the formula and fuel prices ‘ll come down. In the mean time prices ‘ll unfortunately continue to go up.

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  17. ………..do you see more of the 1+1=3 people than the 1+1+1=3 people in this place ?…..One of these two would give more excuses to justify the inability to achieve targets told to expectant people…………..Do you see others can’t raise their mouth to utter a word, it’s because of their empty stomach.

  18. The campaign by Upnd even permeated our overseas relatives who saw the head of the Upnd as genius who turn water into fuel…..or is it wine?

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    • Whilst your fellow country men and women were at the polls you were drinking senseless at the pub with other talkative CB chaps and commenting on LT. Very good work!! ***Clap for this man here***

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  19. HH should not be blamed for higher fuel prices which result from rising int’l crude oil prices.Fuullz like Kaizar Zero will lie to you that ichi Lungu had a better economy ,hahaha.

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  20. The idea of reviewing fuel prices on monthly basis is highly inappropriate for a country with a 99% economically illiterate populace and mainly informal traders

  21. Bufontini maningi ! Guys zambia doesnt produce petrol and oil we import these commodities abroad ,where the price per barrel has also been hiked , so guys dont expect fuel price to drop ,note that subsidies on fuel and electricity have been removed to channel the funds to free education and others like paying retirees , paying farmers etc mind you that ROME WAS NOT BUILT IN A DAY please give our leaders ample time to repair the economy that looted by heartless brutal pf regime . It hurts me to remember pf brutal regime .WAKE UP GUYS

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    • The payments to retirees has changed my friend. Money was pulished that it was released but it was not every pensioner who was paid. I have friends and relatives who haven’t received their money up to now.

  22. Fellow citizens, we must understand that the the war in the Ukraine has affected the entire world, with weak economies like ours getting worse off. Here in South South Africa, the situation is equally bad, because of Ukraine. The cost of fuel keeps going up because of it. Most people do appreciate that. I therefore find it really irksome when some Zambians try to make political capital out of the inevitable fuel price increases in the country. The increases are simply inevitable.

  23. Yayayaya! I see by the down votes Noone is agreeing with Jay Jay or Tarino as he calls himself nowadays and I therefore conclude Zambia is safe.

  24. All this price hikes and inflation is as a result of the western govts hypocrisy and stupidity…placing sanctions on a major energy economy like russia was wrong.

  25. just to make it clear: When Gas prices rises while inflation drops, thats all just smoke and mirror as every single good which end up in stores has to get there somehow in first place. That means if gas prices are higher, the cost for all goods becomes higher too…people have to pay more for everything…the drop in inflation will be vaporised just like that

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