ERB increases fuel prices

The Energy Regulation Board has announced an increase in fuel pump prices effective midnight 23^rd September,2019.

In a statement, ERB Board Chairperson Raymond Mpundu says petrol has been increased from K15.20 ngwee to K15.98 per litre representing an increase of 78 ngwee.

Mr Mpundu says diesel has been increased from K13.43 ngwee to K14.23 per litre an increase of 80ngwee.

He says Kerosene has been increased from k11.34 to K13.02 while Low Sulphur Gas has been increased from K15.72 to K16.52.

Mr Mpundu has attributed the increase to the depreciation of the Kwacha from February to August 2019 and the continued upwards trend in the international oil prices, between May and July 2019.

He says the two factors have had the combined effect of increasing the domestic wholesale and pump prices beyond the 2.5% trigger band.