Zambia Increases Price of Petroleum Products

Text of report by state-owned national newspaper Zambia Daily Mail website on 9 August

[Report by Violet Mengo: "Fuel Prices Up"]

The Energy Regulation Board has increased the price of petroleum products in some cases by as much over K1,000 [kwacha] per litre.

In a statement released in Lusaka yesterday, ERB executive director, Silvester Hibajene, said the increase was with effect from midnight last night.

He said the increase has been necessitated mainly by high oil prices on the international market.

The new prices have seen the price of petrol going up from K8,355 to K9,458 per litre, diesel from K7,232 to K8,190 per litre and kerosene from K5,104 to K5,745 per litre.

“These increases are in line with the Cost Plus Model which takes into account the cost of importing feedstock on cargo basis, among other things.

“It must be emphasised that this adjustment is applicable to the current cargo which docked in Dar-es-Salaam on 3rd August 2008. The cargo enabled Indeni Petroleum Refinery to resume operations after it had shut down on 9th July 2008 due to lack of feedstock,” Mr Hibajene said.

Originally published by Zambia Daily Mail website, Lusaka, in English 9 Aug 08.

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