https://newsletter.en.creamermedia.com
Energy|Petroleum|Products
Energy|Petroleum|Products
energy|petroleum|products

Zambia hikes fuel prices after removing subsidies on petroleum products

17th December 2021

By: Reuters

  

Font size: - +

Zambia has increased the price of fuel after removing subsidies on petroleum products to reflect the correct price of the commodity, the energy regulator said on Thursday.

The pump price of petrol was increased to 21.16 kwacha ($1.29) per litre from 17.62 per litre while diesel price rose to 20.15 kwacha per litre from 15.59 per litre, the Energy Regulation Board said in a statement.

"This is following the announcement by the government that fuel subsidies will be removed so as to migrate to cost reflective pricing," it said. The current pump prices have been kept artificially low since December 2019 despite movements in international oil prices and depreciation of the kwacha, the regulator said.

Zambia Finance Minister Situmbeko Musokotwane said earlier this month that an International Monetary Fund programme to try to get the country's global debt mountain back under control would include removing unsustainable subsidies on energy and agriculture.

The IMF and Zambia this month reached a staff level agreement on a $1.4-billion, three-year extended credit facility.

Edited by Reuters

Comments

Projects

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 22 November 2024
Magazine round up | 22 November 2024
22nd November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:4.393 4.588s - 174pq - 2rq
Subscribe Now