Fuel prices increased barely two months from the last increase

The Energy Regulation Board -ERB- has increased the pump price of petroleum products effective midnight yesterday.
Petrol has been increased by 1 Kwacha 13 ngwee and diesel by 1 Kwacha while paraffin has been adjusted upwards by 72 ngwee.
Petrol will now cost 9 Kwacha 87 ngwee per liter from 8 Kwacha 74 ngwee.
The new price of diesel will be 8 Kwacha 59 ngwee from 7 Kwacha 59 ngwee while Paraffin will now be 6 Kwacha 12 ngwee from 5 Kwacha 40 ngwee.
This is contained in a statement issued to the media by the ERB last evening.
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.
The ERB last increased fuel prices in May this year.

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