Saturday, June 15, 2024

Fuel price increased

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The Energy Regulation Board (ERB) has increased the prices for petroleum products effective mid-night of Monday , October 31st 2022.

The new price for petrol is now costing k24.31 per litre from k22.74, low Sulphur Diesel is now at k27.38 from k26.16, Kerosene has been increased to k19.23 from k16.06 and Jet A-1 fuel has been increased to k21.78 from k20.69 , respectively.

ERB Board Chairperson, Reynolds Bowa announced the adjustment of the pump price of petroleum products and Jet fuel at a press briefing in Lusaka on Monday.

” The world supply is expected to fall as a result of pending European Union ban on Russian crude and oil products and the output cut from the OPEC countries of 2 million per barrel per day, ” Mr Bowa said.

He noted that on the local front, the gradual depreciation of the kwacha against the United States dollars is expected to hold in the medium to short term in view of the expected global recession and in the interest rates especially in western countries.

He also explained that depreciation in the Zambian kwacha has necessitate the increase in the petroleum products and Jet fuel.

Mr Bowa added that during the period under review, the Zambian kwacha depreciated month on month from k15.60 per dollar in September to k15.93 per dollar in October, 2022.

“These are some of the factors which have necessitated the changes in pump prices for petroleum products and Jet fuel among others,” he said.

33 COMMENTS

  1. VIVA HH, VIVA UPND. Its unfortunate Kaizar is no longer blogging, he should have supported me.

    We are yet to see the worst. Even the kwacha they were boasting about is depreciating. VIVA hh VIVA upnd

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    • This is the fault of PF you *****. In order for Zambia to secure debt relief, it had to agree to these painful concessions. When you borrow $31 billion in 10 years, that you have no way of paying, you are mortgaging your country.

    • So you want a by election, so that you can vote for the PF that borrowed the $31 billion that caused the fuel price increase? What do you want, for the PF to sell you mother to the highest bidder, so that you can understand?

  2. We are in serious trouble with this govt. t is unprecedented that fuel prices are revised every month. This is making it very hard to plan for the future especially those in transport business. So we must expect fares to go up immediately. UPND please be serious and stop this mediocre of running the country like this. We the people need a solid focused future not this chipantepante, even the previous regime despite their failure they gave us a clear failed roadmap.

  3. Uyu Ndani praise singers are saying do not worry the economic indicators are positive, the best so far achieved in Zambia. Youth, you can now see. The worst, at this rate, is expected.

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  4. Tule.nya tulelapila. We were warned . We were cheated. They are now fixing us.
    FISP messed up. Fertiliser prices up up up. Fuel…up up up
    Ubunga….up up up, Sugar K50/2kg.
    Then they say inflation is down…..Dollar is dropped ……..GDP is good …..

    WHO ARE YOU CHEATING?????

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    • I choose not to understand the language you started this answer with. What you are seeing the fault of you PF thugs. The $31 billion you borrowed, and then looted, is now coming back to haunt Zambians. In order to get relief from that debt, HH had to agree to these painful concessions. This means that what is happening is your fault.

  5. Fuel prices are going up every where, and remember PF left a very weak economy that the current government has no way of shielding the consumer for now. It will take another 2 to 3 years to normalize the situation, the damage was just too much. They said more money in peoples pockets not knowing that they meant their own pockets, that is PF for you, always innovative in the wrong way

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    • HH made it look like he can fix this situation and sounded so clear, now you understand when they said he is under five and no experience how the govt works. He is now fixing the masses. UPND have no clue what they are doing, for over a year now they have been playing with the issue of fuel without making any headway. It is long overdue now, we need fuel to be normalized one way or the other.

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    • Iwe nyu doni we are not children. When Kambwili told you that the fuel crisis was GLOBE you laughed and convinced people that Kambwili was lying. PF left a mess which you promised to correct within a fortnight. Now you are asking for 4 years. PF left the fuels at a mess of 15 Kwacha and 17 Kwacha per litre for diesel and petrol respectively but you have made messier.
      Please don’t play childish mental games with the people

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    • That is a lie you upnd syncomphant . Before blaming PF think. Your Kabushi MP, who will lose his seat soon, said he wanted to bring his ward to Lusaka standards. We all know the PF made Lusaka what it is so just acknowledge you have to beat their standards. Don’t always blame them for your failures. While you ride on their successes.

  6. Unstable fluctuating Kwacha/Dollar exchange rate has always been a tax on everyone: public, businesses and government.

    A hungry man is an angry lion. There is no money, no loans, no jobs, no farmer support inputs, and no CDF. Fertiliser is commercially selling at K1000 per 50Kg bag and cost of living has sky rocketed. When will we start buying it at the New Dawn price of K250?

    Monthly changes in the fuel is creating a lot of pressure on Zambians. Please find a way of sorting this mess. Try revising the pump fuel prices quarterly, termly, biyearly or whatever, to give room for proper planning and budgeting.

  7. kkkkkkk fix them kkkkkkkkk ERB being in the office just to increse fuel and what job is he doing apart from pronucements of increasing fuel.

  8. You told us you are removing fuel subsidies to pay for free education. Who told you we wanted ‘free’ education and not ‘free’ fuel? Who told you to increase CDF funding which is not working owing to the unbearable red tape and bureaucratic procedures. Last year CDF was not utilised. This year you increase funding. What a flawed reasoning!

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  9. people should know that we are still using PF budget. This increasment is what PF left before UPND came into power.
    UPND is just managing what PF has already done.

    • Everything that is not working well is referred as PF programmes. When is UPND going to take charge even when they have been at the helm for about 1½ years? Why do they allow PF to be running their affairs? Unless UPND are so naive.
      We all know they are just scapegoating. To hide own failure.

  10. the best performing currency its now depreciating what will those who were asking how our beloved Zambian kwacha has managed to sky rocket in the mid of global crisis ask now. it has became a global issue that we have failed to balance up it is always easy to play football from the ground stands

    • All they did was to make the Kwacha scarce. That way our currency became stronger than the dollar with gaining purchasing power.

  11. |I staunch supporter of UPND before and during the elections. What I am seeing in this government is a bunch of people who have no idea what they are doing including the man at the top. Corruption in government is rising. Masebo is guilty, but she is being shielded.

  12. Here is my otherbsolution on energy crisis.

    Government should start buying strategic fuel. Keep it in some tanks to last 3/4/5/6 months. We are used to perpetual fuel hikes. But our problem is the minthly rate at which the increments (and reductions) are done by the government.
    GRZ two months ago had running battles with bus commiters who don’t want to reduce fares when the pump price goes down, but are quick to solicit a raise.
    To mitigate this problem, please let’s stockpile this liquid energy so that the fuel price shocks, fluctuations are cushioned somehow.

  13. As long as kwacha depreciates then fuel will continue to go up. BOZ needs to address the exchange rate and make sure the kwacha appreciates or at least remain stable for fuel prices also to remain stable.

    • It is not the first time our Kwacha has depreciated that we have these trending fuel fluctuations. When our currency was in its hay days (USD1 at K14) we had same varying fuel prices; even before the Eastern European hostilities.

  14. I wonder what is wrong with us Africans I mean what has the war in Ukraine got to do with us so what if EU bans fuel from Russia…go and trade with Russia directly. Then there is the increase in A1 Jet Fuel last month the Tourism Minister was talking about not increasing it so as to attract tourists of flights even though its still the highest on continent today you have increased it yet again. Govt needs to coming out and explaining to the people …now here there is a problem because Govt spokeslady is too thick to articulate such issues.

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  15. He who is saying pf didn’t do a good job must be stupid cause the only part that pf didn’t do well for all I can remember is the cadres part …! A life of a youth is indeed full of regret

  16. Fuel will be K5/Litre……….Church elder tabepa.
    Sugar is now K50……Church elder tabepa.
    Fertilser is now K1200……chiyrch elder tapeba.
    Church elder now wabufi.

  17. What good is there in PF when first and for most did not care to take President Sata to hospital in time.
    It must have been the greatest opportunity and then avunculicide with the help of a clinical Officer.

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