Fuel Hikes, Spikes Inflation and Brings Cascading Effects
The Energy Regulation Board has increased fuel pump prices for December, reflecting the impact of a weaker Kwacha and rising global oil costs.
This adjustment is expected to automatically raise transport, production and distribution expenses, putting upward pressure on the cost of living.
Key sectors likely to get affected almost immediately are the agriculture, manufacturing and the logistics sector, as this will face increased operational costs, which may lead to higher commodity prices.
The fuel hike also poses a renewed inflationary spikes and risks at a time when stability is seen improving.
This development further highlights the need for stronger energy diversification, enhanced efficiency in the supply chain, and sustained policy measures to protect consumers and support economic resilience.
