Govt urged to revert to quarterly fuel price review

MILLERS Association of Zambia chairperson Andrew Chintala says government should come up with a better timeframe of reviewing the fuel prices as opposed to the current monthly pricing cycle.

Mr. Chintala says the adopted move by government has affected the operation of the millers in the country.

He says it is difficult for millers to plan their operations monthly.

Mr Chintala has since appealed to government through the energy regulation board (ERB) to consider reverting back to the previous quarterly review which will give most stakeholders enough time to plan their operations.

This comes after government through the Energy Regulation Board (ERB) announced the downward adjustment of fuel pump prices on April 31, 2022 which has raised concerns amongst stakeholders.

And the Zambia Consumers Association (ZACA) said there is need for Government to seriously consider a quarterly review of pump prices so that consumers do not feel the harsh economic impact.

Association Executive Secretary Juba Sakala said, the monthly review of fuel prices is beneficial only to market players and not the ordinary consumers.

He adds that this can be seen through how business person’s rush to increasing the prices of goods and services each time there is a slight increment in fuel and do not do the same when fuel prices reduce.

Mr. Juba said there is also need to enact a Statutory Instrument that will compel businesses to reduce the price of goods and services when fuel is reduced so that the Consumer can also see the reduction as beneficial.

He adds that Consumers must benefit from reductions as the success of most businesses is dependent on the consumer.