By Patricia Male
Energy expert Johnston Chikwanda says consumers will be saved K1.5 billion in total from the last 3 months fuel pump price reductions announced by the Energy Regulation Board -ERB-.
Dr. Chikwanda says from the June fuel pump price reduction announced by the ERB yesterday, consumers will be saved K400 million while from the April and May reductions, consumers were saved K940 million and K164 million respectively.
He has told Phoenix News that this will also improve return on investment by the Oil Marketing Companies -OMCs- due to reduced import bills as a result of reduced prices.
The ERB has announced a reduction in fuel pump prices with petrol reduced by K3.14 ngwee from K27.59 ngwee to K24.45 ngwee per liter, diesel has reduced by K2.77 ngwee from K24.64 to K21.87 ngwee per litre while kerosene has reduced by K73 ngwee from k20.47 ngwee to K19.74 ngwee per liter.