Sun, 20 Aug 2017 09:04:38 +0000 FOLLOWING the recent fuel price adjustment by the Energy Regulation Board (ERB), a number of issues have been raised by the public and other stakeholders. This week’s article is therefore dedicated to clarifying these issues of concern raised by the public on different platforms, including the media. The key issues captured and the ERB responses are as highlighted below: Question 1:Why was the fuel adjustment so low? Shouldn’t it have been higher considering reductions in international oil prices as well as gains in the Kwacha exchange rate? From the outset the ERB would like to emphasise that the pump prices are not determined on the basis of pure crude oil as appears to be the general perception. Rather, it is based on a two-tier product importation system that provides for security of supply in the country as follows: .Commingled feedstock that is transported via pipeline; and .Refined petroleum products […]
ERB CLARIFIES ISSUES RAISED ON THE FUEL PRICE ADJUSTMENT
