The Energy Regulation Board (ERB) has announced a national uniform increase in fuel pump prices.
The price of Petrol has been increased from the current K 7 639 Kwacha to K 8 647.
Diesel, which is currently fetching K6 999 will now be selling at K7 950 kwacha.
ERB Executive Director Betler Sitali announced the increase in a statement to ZNBC News in Lusaka , Friday evening.
Mr. Sitali said the increase in pump prices has been necessitated by the depreciation of the kwacha against the US dollar, since petroleum feedstock is priced in US dollars.
He disclosed that the wholesale price had increased to about K4 750 at the time of purchasing the cargo in December 2010.
Pump prices of fuel were last adjusted in September 2010 when the Uniform Pump Pricing-UPP mechanism was implemented.
[ZNBC]
Betler Sitali is a very dull chap, just like Rupiah. The Kwacha rate in September last year was between K 4,700 – 4,900 to US$1, same as today or when you bought the cargo and do not see any reason for this Increament except fund raising for MMD.
The reasons put across on kick Mubarak out are similar to Rupiah’s and do not see any reason why we should keep him in state house when he’s such a dull fellow. Let’s throw him out like a DOG
Hmmmmmm and you call this economic progress?
Fuel prices going up in a country with MMD bootlickers who celebrate the comissiong of road construction- we don’t even know if it will come to fuition and join the Muchinji railways…
Accept the fact that our economy is not doing well, the depreciation of the kwach aganist major foreign countries at a time when copper prices are very high is unacceptable. what indicators does MMD use?? Situmbeko Musokotwane- where did he get his PhD from- Matero University or he is just dancing to RB’s tunes with little thinking?
Lady gaga and all the beneficiaries from RB’s govt so you will not comment we know you you just comment when its abt Sata and when real issues hit you so called ‘good economy’ you are quiet.
The MMD govt has done alot to deserve another term,they have managed to INCREASE FUEL PRICES, REMOVED ABUSE OF OFFICE CLAUSE, and many more.
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But alot of ministers including RB have been going round telling people that the economy was picking and that kwacha is gaining strength. But read this- “Mr. Sitali said the increase in pump prices has been necessitated by the depreciation of the kwacha against the US dollar, since petroleum feedstock is priced in US dollars.” The question is: does it mean Zambia’s economic growth is just on paper? Can the government learn to tell the truth please.
YaYa.
So your happy that Zambians will be paying approx 40,000kwacha per litre in July 2011?
Why cheer when Zambia has to import ALL of its fuel requirements due to the poor system at Indeni?
The only people making money are the importers where MMD takes off its share of the taxes for campaigns.
Look at it this way.
When you only import cheap Chinese technology you will only expand by the same standards.
Learn cheap and your kids will be cheap.
Its things like price increments that have sparked of revolutions in arab countries in North Africa. Dont think Zambia is immune from this.
Govt is letting money go out of the country by engaging in illegal deals with the Chinese who finance their political activities at the expense of the nation.
We will see
Gulani chabe petrol imwe. Did you think that things would be any better if that terrorist was in state house?
Advisor, you are the guysthat coz Africa to lag behind becoz of your selfishness! Just becaise you benefit from MMD thugery in a way so you go to insult the Zambians. its terrible!!! The government is organising a forum whre 2 million USD will be spent. anyway even Mubbarak had same people standing by hid side so we hav to know of simple minds. When things are bad they are bad!!! its redicolous!
THIS IS VERY SAD INDEED,NEXT ESCALATING PRICES OF ALL DAY-TO-DAY NECESSITIES,ITS A SHAME!!!!!!!!!!!!
We are doing well. Prices of everything will go up. No prices have gone up from my last purchase of groceries. . . We have a minimum wage for my domestic aid. Soon it will be ZESCO and the effects will be massive. But my salary increament will be the usual 10% or below if we lucky. How are going to cope. . . . Copper prices going up but we can’t see the impact of forex earned. This country is something else. . .
Good. the economy is growing!
#7Wrecking ball There is no mention in that blog that i was happy about the fuel increase,infact sir i just copied and pasted from some website that info .Why blame Indeni for fuel increase or the MMD government?This just goes to show how shallow we think as Zambians.RB,Indeni or indeed MMD does not produce any crude oil,never.We import all our stock feed incase you have forgotten ,the prices of crude oil on the international market are not influenced by small economies like Zambia by many other factors .This is a bitter pill to swallow bane.
10 gearbox nyambe, just answer the question: “Do you think that things would be any better if that terrorist was in state house?” I did not say that the increase is good or bad. What I know is that this issue has been with us from time immemorial, irrespective of who occupies State House. All I am saying is that the name of the tenant at Plot 1 is immaterial, more so for the aspiring tenant.
The challege we have in this country, is that politicians like playing with our minds…globally the economy is yet to recover, oil prices have gone up but our leadership is painting Zambia like a paradise, at the rate information is moving webwise only a very dull leadership will rely on misinformation to cling to power!
If we had been collecting equitable and reasonable taxes from the foreign investors, we would have been able to subsidize the fuel prices. I just can’t understand what RB and his cronies are thinking. With the copper price going beyond the $10000/t price barrier, it is incredible that we still refuse to collect what is due to us.
And then the CSO will say inflation is decreasing
Regards
No Bamba required
OIL Producing countries benefitting from Oil Windfall taxes. Ifwe we are busy watching OUR copper go out of Zambia, never to come back and we cannot reap from the $10,000 per tonne copper prices. Foolish MMD they need to Go. I will later move a motion to ensure MMD pays back what they failed to collect. OOh + sending ka Kafupi into Prison. he cannot benefit twice, rob us and we build him a house. What nonsense.
Shi Philipo you are spot on. The truth is what will help the government to have the support of the zambians. Tell us the truth so that we are prepared for all eventualities. Think again on windfall taxes. Misinformation will cost you and it is so very unfortunate that the opposition in Zambia can not also articulate issues and capitalise on this misinformation. The opposition has failed to analyse issues to help Zambians make good choices
Where on Earth?…that is an Increament of about K 1000. Please Senior Citizen and MMD Chiel Bootlicker tell us about your dreams ( Mashabe) you usually tell us about Good economic gains throug RB.
decampaigning is at its highest levil here,,,,,,u r right make money 4 MMD so that when it wiil be in the opposition any time after october it will manage to sustain itself..pay mulongoti,shikapwasha,GK,smart d.siliya,
pliz guyz dont loot grz cofers coz lest we deal with u come january 2012,just uz these triks 4 yo survivo after 10.2011
If what #1 is saying about the exchange rate in September last year and now is true then they had better come up with a better reason for the increase. And like the other bloggers have said whilst the copper prices are so high (about K47 million per tonne) we seem to be earning so llittle forex from it. If we were, it would certainly have helped in stabilizing our Kwacha against the dollar and consequently mitigated the increase in the cost of oil. But alas it is the common man who will feel the pain far more than the ruling class and their relatives and cronies, for they can easily afford it.
increase in fuel prices will have a negative effect on livelihood in general. but we cannot simply conclude that the nation is not doing well just because pump price is up. Bostwana is facing a hike in pump price so does it mean their economy is not doing well. namibia increased fuel prices last month and most certainly namibia and SA will face another price does that mean the econmy is not doing well? Pump price in increasing in the USA even is the face of their strongest recovery, it means the economy is not doing well?
Price hikes Uk Below
Motorists already paying record prices for petrol at the pumps will face further hikes over the next few days.
On January 1, a planned Government fuel duty rise will put 0.76p on the price of a litre of petrol and diesel.
Next Tuesday, January 4, the increase in VAT to 20% will mean pump prices go up again.
The AA estimates that the two increases will add around 3.5p to the cost of a litre of petrol and diesel. Its figures show that at present, a litre of petrol costs an average of 123.98p a litre, with diesel at 128.20p a litre.
This time last year petrol was at 107.74p a litre and diesel at 109.46p. The AA has estimated that motorists – even before the two latest increases – are spending almost £10 million more a day on petrol than this time a year ago.
We do not have any more time to waste by continually putting Rupiah in Office. Let’s kick him out and out for good, for us to benefit from the windfall taxes.
With regards increament in fuel prices, there is no tangible justification and would challenge Rupiah or any of the other minions to tell me the basis for the increament because the reason above is all but bull’shit.
Just accept the prices,Imwe mu despora muzinvela maningi,at least we have oil in lozi land you theives you have accept we are better than you.
MMD have bought thousands vehicle using GRZ money and labeled them Provincial admin and yet they have been given to Cadres
If my math is correct, that’s about $7 a gallon. I’m currently paying $2:91 a gallon of gas. But I hear gas is as expensive (about $7) in western Europe too.
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