ECONOMIST Bright Chizonde says the Bank of Zambia (BoZ) achieving the six to eight percent inflation target cannot lead to fuel prices reducing to K9. Recently, Oil Marketing Companies Association (OMCAZ) president Dr Kafula Mubanga predicted that fuel pump prices could fall to single digits between 2026 and 2027 if the Central Bank’s forecast of single-digit inflation for the same period materializes. On Friday, Chizonde said the only way fuel prices could reduce was if international crude oil prices dropped and the Kwacha continued to gain. “Achieving the six to eight percent inflation rate cannot cause fuel prices to drop to K9. Actually, if international crude oil prices drop and the Kwacha continues to gain, this is what will cause...
