ENERGY Minister Peter Kapala says the decision by some of the world’s largest oil exporters to cut production will not initially affect fuel prices in Zambia. And Kapala says he is hopeful that with the initiatives government is putting in place, the fuel price may be lower than K20 during the course of the year. According to the BBC, several of the world’s largest oil exporters announced surprise cuts in production in a move which is expected to push up prices. Saudi Arabia, Iraq and several Gulf states said they were cutting output to support market stability. Oil prices soared when Russia invaded Ukraine, but are now back at levels seen before the conflict began. Commenting on the development in...

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