ERB Credits Government Policy for Stable Fuel Prices

The Energy Regulation Board has credited deliberate Government policy measures which have protected consumers from volatility in global oil markets.

ERB Senior Manager for Research and Pricing Rogers Muyangwa said that policies have achieved relative stability of fuel prices helping protect the local market against external influence such as fluctuations in international crude oil prices. His comments follow the ERB announcement of a reduction in pump prices of diesel, kerosene and Jet A-1 fuel for June, while leaving the price of petrol unchanged.

Notably, the price of diesel has been reduced to K32.11 per litre from K33.99, while petrol remains at K27.15 per litre. The ERB added that the adjustments were made following its monthly review of petroleum prices.

Energy expert Johnstone Chikwanda further said that consumer and businesses will benefit from reduced diesel and kerosene prices.  

Dr. Chikwanda said that price cuts will boost economic development especially for household and productive sectors that depend on diesel and kerosene for transport and energy needs.

He added that stabilised fuel costs will ease operating costs for businesses and continue to drive economic activity across the country.