THE Energy Regulations Board (ERB) has announced an increase in fuel pump prices in Zambia.
The price of petrol has increased by K0.56 per litre, from K29.42 to K29.98, while the price of diesel has increased by K3.08 per litre, from K26.88 to K29.96.
This announcement was made by ERB Board Chairperson Reynolds Bowa during a media briefing held in Lusaka Saturday evening.
Bowa attributes the increase in fuel prices to the rise in the international price of oil and the depreciation of the Zambian Kwacha against the United States Dollar.
He says the new fuel prices are necessary to ensure security of supply of petroleum products on the domestic market.
