MONICA KAYOMBO, Lusaka

THE Energy Regulation Board (ERB) has adjusted downwards the pump price of petrol, diesel and kerosene as well as Jet A-1 at Kenneth Kaunda International Airport and other local airports. The price of petrol has been reduced by K3.14 per litre while diesel has come down by K2.77 for the same quantity with kerosene decreasing by K0.73, which represents a reduction of 11.99 percent, 11.05 percent and 7.7 percent, respectively. “The factors that caused the decline of oil prices included concerns about a looming recession that affected the oil and gas market,” ERB board chairperson Reynolds Bowa announced during a media briefing in Lusaka. “Fear of a banking melt down following the collapse of some Western banks also created additional uncertainty.” Mr Bowa noted that oil prices on CLICK TO READ MORE