Energy minister David Mabumba has warned of a possible increase in fuel prices and says consumers need to accept the prices as the government will embark on bi monthly review of the price.
After increasing the fuel by a very wide margin last year, this year again government effected a meagre reduction which had no impact but sources at the Energy regulation Board (ERB) have also indicated that the cost of fuel is likely to be higher than it was earlier.
Mabumba announced that the price of fuel shall be determined by the performance of the Kwacha against other convertible currencies as well as the prices of the commodity on the world market.
But in an exclusive interview with the Zambian watchdog, a senior official in ERB said that PF has failed to stabilise the price of fuel and that the recent reduction was just to blindfold the consumers so that when they increase there will be some justification.
“The prices of fuel on the world market have been rising and it defies logic to have them reduced in Zambia so this meagre reduction which had no impact was just to blindfold people, just wait the real price which shall even surpass the earlier one is coming most likely in February and in short that is what the minister is trying to prepare Zambians for,” he said.