Tue, 13 Feb 2018 10:21:23 +0000 By AARON CHIIYANZO FUEL pump prices have been revised upwards following an increase in international oil prices and the depreciation of the Kwacha against major trading currencies, the Energy Regulation Board (ERB) has announced. The price of oil has hit $70 a barrel for the first time since December 2014. Brent crude climbed after members of Opec, the cartel of 14 oil-producing nations that accounts for 40 percent of the world’s output, said it would continue to limit supplies. The RAC, the motoring group, has warned that rising oil prices could lead to higher forecourt costs for motorists The changes in the pump prices are effective from last midnight, ERB board chairman, Raymond Mpundu said in a statement issued in Lusaka yesterday. Mr Mpundu said the price of petrol had been hiked to K13.75 per litre representing an increase of K0.78 from K12.97. Mr Mpundu said the diesel price […]
