THE Energy Regulation Board (ERB) Chairperson Reynolds Bowa says the Strategic Reserve Fund which they have been using to keep the fuel prices constant for the last four months has been depleted. In an interview, Sunday, Bowa said fuel prices would now be entirely determined by international prices and the exchange rate. “What has happened is that we have what is called the Strategic Reserve Fund and that Strategic Reserve Fund is in the price of the fuel so we collect a sort of a levy that is used to support the growth of the industry. So, that’s what we’ve been using to support the cost of road transportation for the last three or four months. [But] it is not...

This premium content is for paid ePaper subscribers.
Subscribe
Already a member? Log in here