FORMER Oil Marketing Companies Association president Dr Kafula Mubanga says fuel prices are likely to increase once the tax waiver period elapses, as government will want to recover revenue lost due to the waiver. On Sunday, the Energy Regulation Board announced a reduction in the pump price of diesel to K32.11 from K33.99, while petrol was maintained at K27.15. In an interview, Monday, Dr Mubanga attributed the current fuel pump prices to the waiver on the commodity. “The current fuel prices are due to the waiver the government has put on fuel, but once the waiver expires after three months there will be a market crash. There will be a lot of debt because there will be a lot of...
