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No plans to adjust fuel prices – ERB

THE Energy Regulation Board says at the moment, there are no plans to have fuel prices adjusted upwards.

ERB director general Langiwe Lungu said 13 people have been prosecuted and convicted for illegal fuel vending.

Addressing a media briefing in Ndola yesterday, Lungu said the ERB board chairperson was the only one who can announce if there are any fuel price adjustments.

“We have seen some social media reports, but the processes are there and how we announce the adjustment of fuel. At the moment we are not announcing any adjustments. We have a policy guidance of every after six months to review the process. If the board chairman does not announce, then there is no adjustment,” she said

And Lungu said at the commencement of the fuel marking programme in 2018, illegal fuel activity at filling stations was at 21 per cent with a pass rate of 79 per cent.

“It was established that in the absence of fuel marking programme there was quantifiable losses to government through tax avoidance. Government lost US $81 million. In addition to tax losses, the quality of smuggled fuel, dumped transit fuel and adulterated fuel was usually compromised resulting in avoidable damage to motor vehicles and equipment,” she said. “Prosecution has resulted in conviction of 13 people for illegal fuel vending. Currently eight cases are at trial stage in the courts of law. With the fuel marking programme in place, the ERB wishes to remind players in the petroleum sector to ensure that every fuel consignment being either transported or received has a valid fuel marking certificate.”

Lungu said the fuel sold by illegal fuel vendors poses a great risk as the source cannot be guaranteed by ERB.

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