Weak Kwacha pumps up fuel prices

THE Energy Regulation Board (ERB) has hiked fuel pump prices by about K1 citing the rise in international oil prices and the depreciation of the Kwacha against the US dollar as the reason for the increase.

Petrol will now cost K13.75 from K12.97, representing a six percent increment.

Diesel will cost K12.01 from K11.09, signifying an eight percent increment, kerosene will be sold at K8.85 from K7.82 while low sulphur diesel will trade at K14.30 from K13.38.
ERB board chairperson Raymond Mpundu said in a statement last evening that the international oil price has been the most volatile and is the key driver for the…

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