Energy Regulation Board retains July fuel pump prices for August

The Energy Regulation Board (ERB) has maintained fuel pump prices for the month of July due to appreciation of the Kwacha despite a slight surge in the international oil market.

Effective August 1, petrol will be maintained at K28.00, same as last month, while diesel will remain at K23.13.

The price of kerosene will remain the same at K21.98 from K24.79, and Jet A-1 fuel will now sell at K23.94, down from K27.08.

ERB Board Chairperson, James Banda, said in a statement on Thursday that since the last price review on June 31,2925, the international price of petrol reduced by 1.49 percent from US$75.71 per barrel to US$74.58/bbl while diesel increased by 6.55/bbl to US$86.27 /bbl from US$79.63/bbl respectively.

On the other hand, Banda said in the month under review, the price of Kerosene and A-1 increased to US$83.27/bbl from US $79.63/bbl, representing 4.57 percent.

He said in July, the Kwacha appreciated against the United States Dollars by 4.04 per cent from K24.27 to K23.29 per Dollar.

“Based on the forgoing, ERB has maintained the price of petroleum products,” he said.

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