ERB maintains fuel prices for September

By Masauso Mkwayaya
The Energy Regulation Board -ERB – has maintained the pump price of petroleum products for the month of September, 2024 .

ERB Board Chairperson WESLEY BANDA says the pump price of Petrol will continue to be 33 Kwacha 47 Ngwe per liter and Diesel will be 30 Kwacha 05 Ngwee per liter while Kerosene will be 27 Kwacha 52 Ngwe per liter.

Mr. BANDA says Kerosene will sell at 27 Kwacha 52 Ngwe per liter.

Mr. BANDA says during the period under review, the prices of petroleum products on the international market declined, while the Kwacha depreciated against the United States Dollar.

He says the reduction in international oil prices was mainly attributed to production uncertainty by the Organization for the Petroleum Exporting Countries OPEC.

He adds that this is attributed to unclear global economic conditions and fluctuating oil demand forecasts especially from major world consuming countries.

Mr. BANDA says the depreciation of the Kwacha against the United States Dollar was on the other hand mainly attributed to reduced inflows for the United States Dollar on the local market.

This is according to a statement issued to ZNBC News by Mr. BANDA.