THE Energy Regulation Board has increased the pump price for petrol from K24.15 per liter to K24.95 per liter.
This translates to an upward pump price increase of 0.80 liters, while prices of Diesel which stand at K25.64 per liter, and kerosene at K18.75 per liter remain unchanged.
ERB Board chairperson Reynolds Bowa said during a press briefing today that the higher increase in the petrol price is attributed to the seasonal rise in demand for petrol in Western countries as the summer holiday commences.
” Further the Kwacha appreciated by close to 2 percent against the United States Dollar to an average of 17.00 since the last review in April.
Also, Since the last price review, the average international price of three petroleum products generally increased from USD$133/bbl in the month of April to USD$ 139/bbl in May,” he said.
Mr. Bowa further stated that the fuel pump prices would be revised on a monthly basis.