• Energy Regulation Board will either maintain or slightly reduce prices of petroleum products by 1 to 2percent.
• This is due to the reduction in crude oil prices on the international market.
• The reduction of fuel will have a direct impact on the business community.

Oil Marketing Companies Association of Zambia (OMCAZ) says it expects Energy Regulation Board (ERB) to either maintain or slightly reduce prices of petroleum products by 1% to 2% in the next monthly fuel price review.
Speaking in an interview with Money FM News, Association President Dr. Kafula Mubanga said this is due to the reduction in crude oil prices on the international market.
“The prediction to the 64 cents marginal decrease in the price of crude oil on the international market. Currently, Prices of oil on the international market are currently fetching around US$110 per barrel from US$120, “he said
Dr. Kafula stated that if ERB reduces prices of petroleum products, the move will have a direct positive impact on the business community whose operations are highly dependent on fuel.
“The business community are always negatively affected whenever fuel prices are adjusted upwards. For Example those in the manufacturing sector use fuel in the production and transportation of their products which is costly, “he said.
Dr Mubanga further proposed that Government should create a pipeline between Mozambique and Zambia to lower the cost of transportation.
He said OMCs have already secured over US$25 million to invest in the creation of a pipeline between Mozambique and Zambia.
“Government to consider the option of regional agreements to start accessing finished petroleum products directly from India,“ he said.
On 30th June 2022, Energy Regulation Board (ERB) is expected to announce the new petroleum pump prices for the month of July.