OIL Marketing Companies Association of Zambia president Kafula Mubanga says the recent conflict involving the USA, Israel and Iran will not affect fuel prices in the country. The US on Sunday launched an attack against three Iranian nuclear sites. The strikes were launched as Israel and Iran continued to attack each other. This has led to speculation in the international media that Iran might retaliate for the US’s strikes on its nuclear facilities by closing the world’s busiest oil shipping channel, the Strait of Hormuz. This could disrupt international trade and drive up oil prices. However, in an interview, Monday, Kafula said the recent appreciation of the Kwacha against major currencies would help absorb any potential price increases. “So the...
