ENERGY expert Dr Johnstone Chikwanda has urged government to consult oil marketing companies (OMCs) and other key stakeholders before changing the monthly fuel price review system to develop an acceptable pricing model. He says a longer review period would make fuel prices more stable and help consumers, businesses and government to plan better. The Energy Regulation Board (ERB) introduced the monthly fuel price review system in 2022, but President Hakainde Hichilema has recently directed that the system be reconsidered. Speaking in an interview, Dr Chikwanda said government needed to involve key industry players in developing a new pricing system because changes in fuel prices affected consumers, businesses and government revenue. “Consensus from key industry players is very critical, and it’s...
