The Energy Regulation Board has adjusted petroleum products prices upwards in the wake of increases on the international market of up to 65% in a period of seven months. In a bid to cushion the economy against soaring prices, Government has reduced Excise Duty on petroleum products resulting in reduced increments of 9.7% for petrol, 13.29% for diesel and 8.86% for kerosene.
Hon Ngandu Magande announced
this in a joint statement between Ministry of Finance and National
Development and Energy Regulation Board on Thursday 26th June 2008.
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