ERB allays fears of Gulf-tension-triggered fuel hikes

The Energy Regulation Board (ERB) has assured the nation the escalating tension in the Gulf will not have an immediate impact on the price of pump fuel in the Country.

ERB Executive Director Langiwe Lungu says whatever is happening in the Gulf where the US and Britain are embroiled in conflict with Iran, has no effect on the next consignment of crude oil Zambia is getting.

Ms. Lungu has told Q-News that each time a new cargo of crude comes in, an assessment is done alongside finished petroleum products brought in by road before determining the fuel pump price.

She states that this is why she cannot also speculate on whether the tension in the gulf will impact on the price of crude oil will cascade and result in increased fuel pump prices in Zambia.