THE Energy Regulation Board (ERB) announced a reduction in fuel pump prices for the month of March, 2024. Meanwhile, ERB Chairperson Reynolds Bowa says the Board has developed a bio-fuels pricing framework that will be used on blended fuel. In a statement, Thursday, Bowa stated that the significant appreciation of the Kwacha outweighed the increase in international oil prices, therefore warranting a reduction in the domestic wholesale and pump prices of petroleum products. “In addition, over the review period, the Kwacha significantly appreciated against the United States Dollar. On average the exchange rate appreciated 14.48%. The appreciation was mainly attributed to interest rate hike by the Bank Of Zambia (BOZ) and the directive that commercial banks hold back more funds...