Zambia cuts fuel prices

A petrol station used to illustrate the story
A petrol station used to illustrate the story

Zambian energy regulator says retail fuel prices will fall from midnight on Tuesday due to subdued oil prices and a stronger kwacha currency.

The authority said in Lusaka that price of petrol would be reduced to 12.50 kwacha from 13.70 kwacha (about 9 per cent reduction) and diesel would drop to 10.72 kwacha per litre from 11.40 kwacha per litre (about 6 per cent decrease).

In October last year, Zambia hiked the retail price of petrol by nearly 39 per cent, while the price of diesel increased by 33 per cent.
(Reuters/NAN)

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