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Friday, September 16, 2022

Reduced fuel prices elates motorists

General News Reduced fuel prices elates motorists

The Energy Regulation Board ( ERB )’s move to adjust the pump price has elated most motorists in Zimba Town, Southern Province.

Last evening, ERB Board Chairperson Reynolds Bowa announced the reduction of petrol price at K3.56 and K3 .14 for diesel effective mid-night last night.

The price of Kerosene too has reduced to K16.09 from K18.93 respectively.

The motorist interviewed expressed happiness at the development.

Among these is Mr John Chuma, a driver, who said that he is happy that the reduction in fuel price saying the development will soon reduce the commodity prices in the area.

“This reduction in fuel pump prices is a good move by Government and I commended it,” he said.

His counterpart , Robert Mwiinga, too, welcomed the reduction saying more people would able to manage and afford to travel in public transport.

“K3 plus makes a difference, because if for example, I have a K50 am assured of two liters to take passengers that go to nearby places,” he said.

Another motorist, Mutinta Choongo is optimistic that the reduction in fuel prices will help to reduce in bus fares.

ERB Board Chairperson Bowa attributed to downwards trends in fuel prices on the international market.

Mr. Bowa adds that the reduction is triggered by the stability of the local currency, the Kwacha on the foreign exchange market.

Petrol is now costing K23.19 ngwee from K26.75 Ngwee and diesel at K24.87 Ngwee from K28.01 Ngwee.

17 COMMENTS

  1. Just hope this has to do with the prevailing situation.. Kwacha and international markets….. not with the impending by election in Kabushi….it happened with the Kabwata. Just saying…as a motorist it’s some relief… but let’s not get new reasons why it will go up again by the likes of Kawana.

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  2. What GRZ needs to work on is to make the price stable for longer periods for these fluctuation aren’t making sense. Any fluctuation in the price of an essential commodity like fuel sends shocks into the economy. Can you imagine if you’re a dealer and you have 30,000 litres if fuel in stock? You’d lose around K90,000! What will now begin to happen is that towards the end of every month, OMCs will be creating artificial shortages because they don’t know which direction the price will change. It’s likely that crooks will strive to get leaked info from ERB for them to decide whether to quickly reduce stocks or to hold. This is an excellent exhibition of Chimbwi No Plan

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    • This is new model that you just have to get used to. The fuel is pegged on a USD and is affected by the performance of the kwacha. Its like you expecting the banks to be selling the USD at the same rate for a year or months. It changes. and works like that. So get used.

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    • #3.1, I’m used to many things that don’t make much sense especially from politicians and their praise singers. Fluctuations in fuel prices aren’t a new phenomenon, they have always been there. How Peter Magande used to deal with them was to buy in bulk fuel feedstock to last up to sometimes 6 months. This ensured that prices remained stable for such a period. ERB under PF introduced the price stabilization fund. All these measures were to address price instability. It therefore doesn’t make sense to to request us to keep quiet and get used in face of brainless decisions

  3. They found it at k17 so what are you saying,This month you increase next month you reduce with a small magine and how do you make people to plan,planning is becoming a problem in terms of fuel there is no way fuel can be like this when we were promised that it will be at k4 per liter.
    The justification given on fuel saga is varing every month,so were is the problem? Angola is not Ukrane or Russia why not invoving Angola.kkkkkkk pa zed napo

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  4. We told you that we are constantly monitoring oil prices and adjusting fuel prices. Even a mere cadre like me knows this. Keep complaining. We have been in opposition before, we also know how to complain all the time…kikiki

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  5. Someone has already racked up millions in this lucrative business…just work hard complain later on the ballot

  6. I agree with 3. It doesn’t make sense to even praise such fluctuations as the hard work of government. You are simply seated and letting the things go with the external forces. Sometimes you have to intervene to stabilize things. The current situation shows some kind of laziness at ERB. How do you do away with forecasting? You will cry the day we have a sharp upward increase to expose your lack of planning.

    • Now we’re being invited as bus operators to discuss the fare reductions. Is this how we are going to live like yoyos? Next month it goes up we will again be invited to increase discussions?

    • Bus fares should forecast or increase yearly. Did the commuters get a rebate with the old system where operators profited due to low fuel ?

  7. These wild fluctuations are a temporary thing………..

    When the economy is under control , I belive GRZ will put in place measures to cushion the shocks of this………

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  8. Everything else should follow cos theres no excuse for keeping prices up when your transport costs have gone down

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