ERB REDUCES FUEL PRICES FOR OCTOBER 2024
The Energy Regulation Board (ERB) has revised downwards the pump prices of petrol, diesel, kerosene, and Jet A-1 for October 2024. A litre of petrol will now sell at K32.70, down from K33.47.
Diesel has been adjusted to K28.90 from K30.05, kerosene to K26.95 from K27.52, and Jet A-1 to K29.57 from K30.53.
Announcing the development, ERB Chairperson James Banda noted that the reduction in prices is due to the decline in petroleum product prices on the international oil market in September 2024.
Banda further explained that the reduction in international oil prices was mainly due to declining global oil demand driven by a slowdown in economic activities in major oil-importing jurisdictions.
He detailed that since the country’s last fuel review on 31st August 2024, the international price for petrol reduced by 7.1%, diesel by 8.72%, and kerosene and Jet A-1 by 7.19%.
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