By Balewa Zyuulu

A Commodity Research Analyst Nkandu Mwenge says with the continued depreciation of the local currency against the major convertible currencies, it is eminent that there will be significant hike in fuel pump prices in Zambia.

The kwacha has continued depreciating and has hit the K20.11 per dollar this week, owing to resumption in high demand for the greenback on the local market.

And Mr Mwenge tells Phoenix News that it would be more profitable for government to subsidize fuel prices arising from the volatility in the exchange rate rather than increasing prices of the commodity.
PHOENIX FM NEWS

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