Friday, March 1, 2024

Energy Regulation Board Maintains Petroleum Prices, Implements Transport Cost Equalization

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The Energy Regulation Board (ERB) has announced the decision to maintain petroleum pump prices for the month of December 2023. In addition, the board has introduced a transport cost equalization mechanism to moderate transportation costs associated with petroleum products imported by road.

Reynolds Bowa, Chairperson of the ERB, shared this information during a media briefing held in Lusaka. Bowa emphasized the board’s commitment to implementing measures that mitigate potential adverse impacts on domestic prices during the fourth quarter of 2023.

The transport cost equalization mechanism, utilizing the Petroleum Strategic Reserve Fund, aims to alleviate the financial burden incurred in importing petroleum products by road. Bowa explained that this mechanism would undergo periodic reviews to ensure its relevance, aligning with fluctuations in international oil prices.

According to the ERB’s latest decision, the price of petrol remains at 29 Kwacha 98 ngwee per litre, diesel at 29 Kwacha 96 ngwee per litre, and jet A1 fuel at 29 Kwacha 29 ngwee per litre. The price for kerosene has also been maintained at 20 Kwacha 44 ngwee per litre.

This decision by the ERB is part of its regular monthly revision of petroleum pump prices and reflects the board’s efforts to maintain stability in the petroleum sector while considering economic factors and international market trends. The announcement comes as Zambia navigates the challenges associated with the global energy landscape.

13 COMMENTS

  1. Too much jargon. Just say you have been instructed to avoid an explosive situation. The Kwacha is burning, world oil situation is volatile with wars raging in the Middle East and Europe…. it’s obvious.

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    • @ba Deja Vu. Shhhhhh don’t tell them that it’s called subsidising to make them appear to be working very hard…only !d!0tic praise singers can’t see through this charade. The true price of petrol and diesel in Zambia should be K40 plus.

  2. They are now forcing things by keeping prices same while dollar is almost 30. Hh tells them to jump, they ask how high. Crooks and thieves. 2026 is coming

  3. So Kaizar you get a sore ass when the ERB announces that the monthly price of fuel in December 2023 remains the same as the price which was for November 2023?? Keep wishing for another depressing defeat in 2026!!

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  4. Hichilema just uttered a short sentence that ERB must find a formula to stabilize the price of fuel and bang! Just like magic the experts have found that formula that has eluded them for the past two years and all those seemingly wonderful reasons they gave us for the frequent price adjustments have disappeared. Have the factors that influenced them no longer at play? They’re and some have even worsened. We don’t need experts to get things done, life revolves around Community House. Weep not, child

  5. Ayatollah, we are tired of people like you who like complaining whichever way things go. Had the ERB increased the fuel price for December 2023 you would still have said life revolves around community house. Why dont you challenge the ERB on the reasons they gave for maintaining the fuel price?? If the reasons ERB advanced for maintaining the fuel price are not convincing you, bring out your reasons for justifying increasing the fuel price which could please you!! Give your arguments to demonstrate that we dont need ERB experts!! Zambian politics revolves around blaming the incumbent president and here you are effectively playing Zambian politics on the fuel issue!!

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  6. We will not manage to strengthen development and governance institutions in Zambia if all the time we divert the blame to a sitting president. Lets us learn to directly push these institutions if and when there is a challenge. Which country in the world has developed if all challenges are directed to a sitting president. We need a mind change to stop thinking everything revolves around the sitting president. These institutions are paid from taxpayers money like the president. So if any institution is not performing well, better challenge that particular institution. The presidency as an institution has its role while other institutions have their specified roles. If any institution fails to perform its specified role, then it is better to question why the institution fails.

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