Fuel prices go up

FUEL prices have been hiked by an average KR1.69 per litre following the government’s decision to scrap fuel subsidy which had kept the local pump prices unchanged for almost two years

Energy minister Yamfwa Mukanga told journalists in Lusaka yesterday that the price for a litre of diesel has been adjusted upwards by KR1.63 while that of petrol has gone up by KR1.75.

This means that a litre of petrol which initially was costing KR8.16 will now fetch KR9.91 while a litre of diesel which was costing KR7.50 will now cost KR9.13.

A litre of kerosene will now be fetching KR1.68 more than it used to.

According to Mukanga, the fuel subsidy has been a huge drain on government coffers.

Last year, the government spent KR754 million on fuel subsidies, an amount equivalent to 70 per cent of the total health sector budget minus personal emoluments.