Zambia News

The ERB is anticipated to review fuel prices

Today, it is anticipated that the Energy Regulation Board (ERB) would examine fuel prices.

The monthly review follows the ERB pricing mechanism, which considers the effectiveness of the charges when added together for three important variables: the exchange rate, global oil prices, and taxes.

The ERB raised the cost of gasoline and diesel by one Kwacha 57 ngwee and one Kwacha 22 ngwee, respectively, on October 31.

The changes in the pump prices and the advertised airfield price, according to ERB Board Chair REYNOLDS BOWA, are a result of developments in the price of petroleum around the world as well as the US dollar’s relative value to the Zambian Kwacha over the specified period.

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