Prices of petrol, diesel, others to remain unchanged in December, says ERB

The Energy Regulations Board (ERB) has maintained the December, 2023 pump prices for petrol, diesel, jet A-1 and Kerosene respectively.

Therefore, petrol would be sold at K29.98 per litre, K29.96 per litre for diesel and K20.44 for kerosene, while Jet A-1 would be fetched at K29.29 per litre.

ERB Board Chairperson, Reynolds Bowa, announced this during the December monthly review media briefing in Lusaka on Thursday.

“The pump prices for petrol and diesel have been maintained because the movements in the international oil prices and exchange rate of the kwacha against the United States Dollar were minimal and below the set threshold of 2.5 percent,” Bowa said.

He, nevertheless, attributed the non-movement in pump price for kerosene due to sufficient national stock.

Bowa stated that the nation should not panic as the prices would be more stable as the country transitions to transporting fuel through the pipeline.

During the last briefing, Bowa announced that the equalisation mechanism was supported by the Strategic Reserve Fund (SRF).

“For the October 2023 price review, the ERB has implemented interim cost line revisions to the transportation rates for petrol and diesel in order to mitigate the adverse movement of domestic fuel prices,” he said.

Bowa said a Statutory Instrument No 41 of 2023 was published to support open access.

Further more, TAZAMA published an expression of interest for use of the pipeline.

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