LUXEMBOURG - MAY 29: A driver fills up the tank of his car with diesel at a fuel station on May 29, 2008 in Luxembourg city. Customers are driving up to 100 km from neighbouring countries Belgium, France and Germany to fill up their vehicles with fuel, which is much cheaper in Luxembourg due to lower taxes. (Photo by Mark Renders/Getty Images)

Zambia’s energy regulator on Friday refuted reports that it intends to effect a price increase of fuel by 20 percent.

Kwali Mfuni, Manager of Public Relations at the Energy Regulation Board (ERB), said the regulator has no immediate plans to increase the price of fuel.

She said in a release that the importation of petroleum feedstock and finished petroleum products was currently in progress, adding that fuel price increase in Zambia is usually done upon importation of petroleum feedstock and petroleum products.

“A fuel price review will only be made once documentation for a new cargo has been availed to the ERB,” she said.

Reports in some section of the media have attributed the impending price hike to the depreciation of the local currency, the Kwacha.

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