OMCAZ Projects Reduction in October Fuel Prices

by Cecilia Chiluba · Published September 30, 2024 · Updated September 30, 2024

Oil Marketing Companies Association of Zambia (OMCAZ) has projected a downward adjustment of fuel pump prices for the month of October, 2024.

Speaking in an interview with Money FM News, Association President Dr. Kafula Mubanga attributed the anticipated reduction in prices of petroleum products, to a downward adjustment of crude oil prices on the international market.

Dr. Mubanga further stated that Energy Regulation Board (ERB) may reduce fuel prices due to less movements in the exchange rate, as there has not been so much change this month.

Energy Regulation Board (ERB) is expected to announce new fuel pump prices for the month of October today, Monday, 30th September, 2024.

Last month, the Board maintained pump prices for petroleum products for September, 2024.