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Zambia increases fuel prices

Xinhua, October 15, 2016 Adjust font size:

Zambia's energy regulator on Friday announced an upward adjustment in pump petroleum prices.

The Energy Regulation Board said a liter of petrol has been increased from 9.87 Zambian Kwacha (about 1 U.S. dollar) to 13.70 Kwacha while a liter of diesel has been increased from 8.9 Kwacha to 11.40 Kwacha.

The regulator attributed the increase to volatility of the local currency which has fallen by 30 percent against the US dollar since the last price adjustment announced in July last year.

It added that the decision was also in line with the government's policy decision of 2014 to remove fuel subsidies and the current policy direction to migrate to cost reflective pricing of energy services and products. Endit