Energy Expert Dr. Johnstone Chikwanda Questions Latest Fuel Price Hike
By Staff Writer
Energy expert Dr. Johnstone Chikwanda has expressed concerns over the recent fuel price increase, stating that it is not entirely justified by changes in international market prices and the exchange rate.
According to Dr. Chikwanda, the trigger point for a price change is a 2.5% shift in either the exchange rate or international price. However, he notes that these fundamentals did not reach the required threshold to warrant the current price hike.
Dr. Chikwanda suggests that other industry-related factors may have contributed to the price increase. These factors could include measures to support the industry in recovering from past shocks, enhancing security of supply, and addressing recent supply concerns.
The energy expert’s comments raise questions about the transparency and fairness of the fuel pricing mechanism, highlighting the need for clearer explanations and justifications for price changes.
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