By Johnston chikwandaTHE Energy Regulation Board (ERB) increased fuel pump prices the previous week. The increase was about 20 percent on petrol and diesel. Last month, the increase was about 10 percent on petrol also known as motor spirit and low sulphur diesel.The basis for the increase was the continued crude oil price escalation on the global market and depreciation of the Kwacha against the United States Dollar to some extent for the March adjustment.However, the most dominant force dictating the behaviour of the local fuel pump price is crude oil price escalation.At the time of the fuel pump price upward adjustment, Brent Crude oil was trading at about $105 a barrel. The behaviour of the crude oil price has been volatile and spiked to $140 a barrel before starting a downward trend to around $105.The outlook remains volatile and extremely unstable for any accurate prediction. With factors pushing the crude oil prices still in […]
MOTORISTS MUST DEVELOP A FUEL SAVING CULTURE
