GOVERNMENT has reduced the pump price of fuel with petrol going down by over 23 percent from K9.89 to K7.60
ZANIS reports that Mines, Energy and Water Development minister Christopher Yaluma made the announcement this morning at a press briefing held at Kasama Lodge in Kasama.
Mr. Yaluma said the fuel reduction was as a result of the reduction of oil prices on the international market.
He announced that with effect from midnight on Friday this week, the pump price of petrol will drop from K9.89 to K7.60 representing a reduction of K2.29, a percentage of 23.13 downwards.
Mr. Yaluma added that Diesel and Kerosene will now sale at K6.59 and K4.69 from K9.18 and K6.77 representing a reduction of K2.59 and K2.08 respectively.
He said it was only logical for Zambians to benefit from the reduction of oil prices on the international market adding that the government was hopeful that the reduction will impact positively on the people.
Mr. Yaluma said there was nothing political about the reduction saying the development was long overdue.
He called on oil retailers countrywide to see to it that they reduced the pump price by Saturday morning so that consumers could benefit.
During the press briefing, Mr. Yaluma was flanked by Energy Regulations Board (ERB) Board member Bishop Edward Chomba.
Acting President Guy Scott hinted recently that government would reduce the price of fuel in line with the falling price of the commodity on the international market.
The Zambian government reduced the fuel price over a month ago in line with the international trends.