‘Kwacha gain good for fuel pump prices’…as economists attribute good performance to BoZ action
Published On February 20, 2024 » 375 Views» By Times Reporter » Business, Stories
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. Mubanga

By CHATULA KANGALI –
THE Oil Marketing Companies Association of Zambia (OMCAZ) has described the re­cent Kwacha gain as real, saying it will help reduce the fuel pump price for this month.
OMCAZ president Kafula Mubanga says the appreciation of the Kwacha will result in the reduc­tion of the fuel pump prices.
Dr Mubanga said in an interview that fuel was the main driver of the economy and that its reduction would have a huge trickle down.
He said the reduction in the pump fuel would trickle down to reduc­ing of prices of com­modities such as mealie meal.
Dr Mubanga further said the exchange rate was one major factor in the fuel pricing model and the appreciation of the currency was key in stabilising prices

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