Fuel prices hiked

The Energy Regulation Board has increased the fuel prices by 15 per cent  effective midnight.

In a press statement Tuesday evening ERB acting executive director Joshua Malupenga said in line with its mandate to regulate the pricing of energy products, the energy regulation Board has revised upwards prices of petroleum products with effect from Midnight 12th January 2010.
He said this followed the ERB board’s  resolution of 12th January to increase prices of Diesel, petrol and Kerosene by 15 per cent across the board.

Malupenga said the increase has mainly been necessitated by a rise in prices of crude oil from US$40 per barrel in early 2009 to the current price of about US$82 per barrel.

He said in addition, Excise duty on Diesel has been varied from 7% to the new rate of 10% with effect from 1st January 2010 and the new Tazama pumping tariff of Us$53.52?MT approved by the ERB on 16th December 2009 has been applied, as opposed to the previous US$39/MT.
With the revised prices, petrol will be fetching at K6, 691 per litre in Lusaka, Diesel K6, 300 per litre and Kerosene K4,409.
In Livingstone petrol will be fetching  K7, 148 per litre, diesel K6, 757 per litre and Kerosene K4,804 litre while in Ndola petrol will be K6,579 per lire and Diesel K6,188.

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