Wednesday, June 19, 2024

Fuel Prices Up Due to Global Oil Market Fluctuations and Currency Depreciation”

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The Energy Regulation Board (ERB) of Zambia has announced an increase in the prices of petrol, diesel, and jet fuel, citing a combination of rising international oil prices and the depreciation of the Kwacha against the US dollar.

Effective from midnight tonight, Zambian motorists will feel the pinch at the pump as petrol prices surge by an average of 3 Kwacha 85 Ngwee per litre. This substantial increase means that a litre of petrol, which previously cost 25 Kwacha 55 Ngwee, will now set consumers back 29 Kwacha 42 Ngwee.

Similarly, diesel prices are also on the rise, jumping by 3 Kwacha 52 Ngwee per litre. Previously sold at 23 Kwacha 36 Ngwee, diesel will now be priced at 26 Kwacha 88 Ngwee.

Aviation enthusiasts are also affected, with Jet-A1 fuel prices soaring from 22 Kwacha 56 Ngwee to 26 Kwacha 42 Ngwee per litre.

However, in a glimmer of respite for consumers, the price of Kerosene remains unchanged at 20 Kwacha 44 Ngwee per litre, as Zambia has built up adequate reserves of this essential fuel source.

The ERB Board Chairperson, Raynolds Bowa, announced these fuel price adjustments, emphasizing that they are a direct response to global oil market fluctuations and the weakening of the Kwacha against the US dollar.

Zambia, like many nations, has grappled with the economic repercussions of these external factors, which have cascaded down to consumers in the form of higher fuel costs. The ERB’s decision aims to strike a balance between managing these economic challenges and ensuring a stable energy supply in the country.

As these new prices take effect, consumers and businesses are likely to feel the impact on transportation costs and overall living expenses. The ERB and the government will closely monitor the situation as they work to mitigate the effects of these price adjustments on the population.

25 COMMENTS

    • So before 2021 Zambia was producing oil? You are a lost soul…. your demigod told us that PF were selling fuel at K17 instead of 10kwacha so that they could steal seven kwacha per each litre sold. A normal person would feel ashamed instead of useless arguments.

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  1. It is as good as not having ERB. Are sure your mandate is to announce prices and not have solutions in terms of controlling reserves?

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  2. Even a baby knows this. The global economy is under pressure. If you cannot afford fuel then don’t drive. Driving is not a human right. You complain about cost of mealie meal yet you drive every day. Get your priorities right

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    • People are not complaining against the price, they are complaining against the lies your master was peddling before he became president. Everything wrong PF did has tripled under your administration.

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    • If hh only cared about his popularity,he would have done the easy pf thing and introduced subsidies. But he understands,like us who have been to school, that short term fixes yield long term challenges. I don’t expect a cadre like you to comprehend this logic

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  3. FIX THEM FIX THEM FIX THEM IF YOU ASKED FOR IT YOU WILL HAVE IT.KKKKKK BUT KWENA WHAT IS THIS KANSHI ABA BANTU TABAKWATA ULUSE.

  4. ERB IS THERE JUST TO ANNOUNCE THE PUMP PRICE KKKKKK ULUSEEEE.WE HAVE ALOT OF DANDER HEADS IN OUR COUNTRY.WE EXPECTED PEOPLE TO BRING SOLUTIONS NOT PROBLEMS.WHAT IS HAPPENING KANSHI.ONLY A FOOL NOW CAN PRAISE THIS MATTER OF FUEL INCREASE.

    • I wouldn’t welcome him in our yard. Infact I wouldn’t allow him to appear on my television. I change channels as soon as I see him.

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    • @ DeJa Vu
      and he spends US$1 million dollars to go and commission bohole that cost less than K100000…very smart man the Supreme Leader Ayatollah Hakainde Hichilema

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  5. If Mr CDF thinks this is the most prudent way to manage this sector, then we’re in trouble. Not even the National Day of Prayers can redeem Zambia

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  6. Like always Spaka will defend the Supreme leader Ayatollah Hakainde Hichilema even if the Supreme leader Ayatollah Hakainde Hichilema is caught stealing red handed……all i can say to Zambians is ” NEVER TRUST A NAKED MAN PROMISING YOU A SHIRT”

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  7. And by the The Egyptians Gold criminals charged with ” Espionage” are out heading back to their respective countries….i told you that this is the Supreme leader Ayatollah Hakainde Hichilema clique of Bandits….its game over and more of our resources are being smuggled right this minute

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    • The whole thing involved someone and all the arrests, charges etc is just posturing to make it look they had no knowledge about it.
      We are dealing with very highly sophisticated individuals. But time will catch up with them.

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  8. @ DeJa Vu
    and he spends US$1 million dollars to go and commission bohole that cost less than K100000…very smart man the Supreme Leader Ayatollah Hakainde Hichilema

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  9. When you touch fuel you touch everything since every commodity including people is transported from one place to another. The key to controlling fuel prices as well as other prices is the exchange rate. Once you lower the exchange rate everything else including fuel will follow. Now the minister of finance is failing to address the falling kwacha so this is the impact.

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