Fuel prices hiked

The Energy Regulation Board -ERB- has increased the pump price of petroleum products effective midnight Monday.

Petrol has been increased by K1.13n and diesel by K1 while Kerosene has been adjusted upwards by 72 ngwee.

Petrol will now cost K9. 87n per liter from K8.74n and the new price of diesel will be K8.59 n from K7. 59n while Kerosene will now be K6.12n from K5.40 n.

This is contained in a statement issued to ZNBC News by the ERB.

ERB says the depreciation of the Kwacha has mainly been caused by the global strengthening of the US dollar against major currencies, low copper prices and weak foreign currency inflows.

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