ERB Revises Upwards The Price Of Diesel, Petrol And Kerosene Maintained
Written by Mafken FM Newsroom on 1 November 2024
By Staff Reporter
The Energy Regulation Board ERB has revised upwards the price of Diesel by 1 kwacha 20 ngwe effective midnight on 31 October 2024 and shall remain in effect until revised by the ERB.
Diesel is now going at K30 kwacha 11 ngwe per litre from 28 kwacha 90 ngwe, while petrol prices and Kerosene prices remain the same at 32 kwacha 70 ngwe per litre and 26 kwacha 90 ngwe per litre respectively.
During the month of October 2024, the notable relative stability in prices of oil on the international market and the exchange rate resulted in minimal impact on prices of some petroleum products on the domestic market.
ERB Board Chairperson James Banda says on the other hand, the prices of petrol, kerosene and jet A- I have not been adjusted because the resultant changes in wholesale prices were below the trigger band threshold of 2.50%.
Meanwhile Mr. Banda has also assured the public that there is sufficient fuel stock to cover the national requirements of petroleum products stating that as of 31 October 2024, the country has 32.67 million liters of diesel and 14.17 million liters of petrol in various depots and retail sites countrywide.
Additionally, fuel has continued flowing in through the pipeline and by road. And Mr. Banda has since advised the public to avoid panic buying as the Board is committed to maintaining the national daily requirement of petroleum products.
