Energy board hikes pump prices again
Energy board hikes pump prices againBy Chiwoyu Sinyangwe
Wed 12 May 2010, 05:20 CAT
The current increase comes barely four months after ERB announced a 15 per cent increment last January. THE Energy Regulation Board (ERB) has announced an increase in fuel prices by between 9.8 per cent and 13.18 per cent effective midnight Tuesday.
The current increase comes barely four months after ERB announced a 15 per cent increment last January.
ERB acting director Dr Mushiba Nyamazana attributed the increase to rising international fuel prices as well as the government’s decision to phase out fuel subsidies.
“As the global economy is slowly moving out of the recession and the demand for energy/petroleum products is beginning to increase, the international prices of oil begun to surge upwards,” Dr Nyamazana stated in a news release today.
“As such, the government cannot continue to absorb the high costs associated with keeping pump prices artificially low.
To this effect the fuel prices have been revised gradually to cost recovery levels…”
Dr Nyamazana stated that Ndola would continue to have the lowest price for fuel at K7, 461 per litre for petrol, K6, 786 for diesel and K4, 798 per litre for kerosene.
On the other hand, Kasama would continue to have the highest price for fuel at K8, 390 per litre for petrol, K7, 717 for diesel and K5, 598 per litre for kerosene.
“The Energy Regulation Board (ERB) wishes to inform the public that prices of petroleum products have been revised upwards by 13.18 per cent (K882 per litre) for petrol, diesel 9.5 per cent (K598 per litre and kerosene 10.98 per cent per litre, based on Lusaka pump prices, with effect from midnight tonight,” stated Dr Nyamazana
posted by MrK @ 3:49 PM
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