Fuel prices to remain unchanged – ERB

THERE are no factors to warrant an adjustment in fuel pump prices despite the effects of COVID-19 and fluctuation of the Kwacha against the United States dollar, Energy Regulation Board (ERB) executive director Langiwe Lungu has said.
During an end of year media briefing yesterday, Ms Lungu said ERB consistently reviews petroleum invoices under a 60-day cycle whenever feedstock is imported to help guide whether pump prices can be revised upwards, downwards or maintained at the same level.
“However, a price change is only effected if the wholesale price is more than the 2.5 percent threshold. It is worth noting that results for the assessments conducted in 2020 were all below this threshold.
“So there is nothing that has necessitated an upward or downward price adjustment,” she said.
Ms Lungu said significant changes occurred in international crude oil prices during the first quarter of 2020 when there was a 68 percent reduction of prices to CLICK TO READ MORE

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