Sunday, March 3, 2024

Energy Regulation Board Announces Fuel Price Adjustments

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In response to the recent currency fluctuations, the Energy Regulation Board (ERB) of Zambia has announced an adjustment in the pump prices of key petroleum products, effective midnight on January 31, 2024.

The revised prices are as follows:

  • Petrol: Increased to K34.19 ngwee per litre from K29.98 ngwee.
  • Diesel Low Sulphur Gasoil (LSG): Increased to K32.15 ngwee per litre from K29.96 ngwee.
  • Jet A-1 Fuel: Increased to K32.69 ngwee per litre from K29.29 ngwee.
  • Kerosene: Maintained at K20.44 ngwee per litre.

ERB Board Chairperson Reynolds Bowa explained that the adjustment is a direct result of the Kwacha’s depreciation in January 2024. The depreciation has impacted domestic wholesale and pump prices, excluding Kerosene, which remains unchanged due to sufficient national stocks.

Consumers are urged to take note of these adjustments, and the ERB assures that it will continue to monitor market conditions to ensure fair pricing and availability of petroleum products in the country.

21 COMMENTS

  1. When you cook and serve nshima you don’t need to explain how you prepared. Just serve and let people eat. The kwacha has been depreciating for some time now not just in January. Just last week another parrot from the ERB was talking about some money saved to cushion the impact of the fuel price etc

    10
    • Masthafakaz it is your fault. When you borrow US $33 billion and loot it, Zambia cannot pay that debt. Be thankful that HH is not a crook like you, because since he came into power, he has refused to borrow any more money. As for you speaking your tribal language, we are going to ignore your ass.

  2. The Kwacha has been depreciating since Kenny Musokotwane announced the dual exchange rate. It collapsed around 1993 when it fell from around K54 to K600 to a dollar when economists were in charge. That’s the time we should have asked questions. It’s now around K30,000 to a dollar, it’s rebased so multiply by 1,000 to get the true value. We never thought that it’d happen in our life time. When leaders aren’t honest people suffer

    5
    2
    • You cannot talk about the value of the currency without talking about the US $33 billion that Michael Satan and Edna Lungu borrowed and looted. I blame HH for 2 things a) He has not educated Zambians on why things are this way b) He has not arrested Edna Lungu for looting the borrowed money. And now, Mutawire Edna Lungu is blaming HH for the problem caused by the money Lungu stole. HH is naive, really, seriously.

  3. What is the use of having leaders without solutions? This tendency of complaining and doing nothing is what is costing Africa. If Kerosene has more reserves why not the other products?

    3
    1
    • Kerosene is not easily available. I had to search the whole town to find one filling station that was selling paraffin.

  4. Now Upnd propaganda team is circulating rubbish comparisons of fuel costs in neighbouring countries…. when fuel was K15-K17.00 and PF claimed it was the cheapest in sadc, HH and company were shouting IT’S A LIE, BUBELA, WENYE, BOZA. BUFI. Now that the shoe is on the other foot it’s a different tune.

  5. Don’t just complain like you don’t know what is going on this is a global thing here in Zambia we’re even better check south Africa check Botswana this is everywhere

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    4
    • You mean currencies, like pula and rand, everywhere are deteriorating like the forsaken kwacha? Thanks for your reminder.

    • In other countries people work for $10 per hour minimum and here people work K100.00 per week so how can you compare countries when buying powers are so far apart. Kambwili as PF spokesperson explained that the problem was Global you didn’t agree. I remember your tin god visiting filling stations and condemning the then prices.

  6. Dollar @ K27 was about to catch up to price of fuel @K29 so fuel had to make a jump to make sure it stays ahead of the dollar. Dollar will have to move fast if it is to catch up to new fuel price but it can be done with time.

  7. @emk there is nothing to check in Botswana or south africa, the president and his team are just a bunch of incompetent guys who ‘ve got absolutely no strategy on how to counter this rapid depreciation anyway ayende 1 term is enough

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