FUEL PRICES UP BY 2 KWACHA

Retail prices of fuel have increased by an average of 2 Kwacha, effective mid-night tonight.

Consumers will now pay 21 Kwacha 96 Ngwee for a litre of Petrol, up from the previous 19 Kwacha 84 Ngwee, while Diesel will be sold at 21 Kwacha 54 Ngwee per litre.

The Energy Regulation Board -ERB- has announced the new prices today, explaining that the increase is inevitable, in order to ensure sustained supply of fuel to the Zambian market.

The ERB says the Kwacha’s depreciation as well as the rising international oil prices, which are now at 1-hundred dollars per barrel, have affected local prices.

ERB Board Chairperson, REYNOLDS BOWA has said in a statement that the geo-political tension surrounding the war in Ukraine, has also affected the international supply chain.

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