Home Zambia News No Fuel Price Review Discussion despite 20% Kwacha Depreciation-ERB

No Fuel Price Review Discussion despite 20% Kwacha Depreciation-ERB

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Fuel

The Energy Regulation Board (ERB) has clarified that currently there is no fuel price review discussions contrary to assertions of a possible fuel price hike following the 20 percent depreciation of the kwacha.

ERB Manager Public Relations Kwali Mfuni has explained that the importation of petroleum feedstock and finished petroleum products is currently in progress.

“The Energy Regulation Board Wishes to inform its stakeholders and the general public that there is no fuel review under discussion at the moment contrary to rumors of a purported planned fuel price increment of about 20 % attributed to depreciation of the kwacha in the past few weeks,” said Ms. Mfune.

She explained that fuel prices reviews in the country are only done upon importation of petroleum feedstock and finished petroleum products.

Ms. Mfune added that a fuel price review will only be made once documentation for a news cargo has been availed to the ERB.Fuel Price to remain unchanged for now

“Therefore as per standard practice, stakeholders and members of the public would be informed once the price review process is undertaken”, she stressed.

This is according to a press statement made available to the media in Lusaka yesterday by ERB Manager Public Relations Kwali Mfuni.

Source: Lusaka Times