Energy expert Johnstone Chikwanda says Zambians should not expect a downward adjustment in the fuel prices following the purchasing of the 10 cargos of feedstock by the government.
On Monday, Energy Minister Mathew Nkhuwa disclosed that the government has purchased 10 cargos of feedstock for Indeni Oil Petroleum refinery amounting to over us$ 490 million.
And in an interview with phoenix news, Mr. Chikwanda says it will be against market forces to adjust downward the price of fuel owing to the fact that the Energy Regulation Board (ERB) is currently using the cost plus model.
Mr. Chikwanda adds that ERB can only consider adjusting the price of fuel after evaluating the cost at which the cargos are procured and the exchange rate on the international market.


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