HH demands reduction in fuel prices

United Party for National Development (UPND) President Hakainde Hichilema has demanded that government further reduces the price of fuel within one week in view of the continued slide in oil prices on the international markets.

Mr Hichilema says Zambians are suffering and local businesses are struggling and that there cannot be any further delay.

He says a serious reduction in prices has been due for some time but that the situation has now become ridiculous.

Mr Hichilema wonders how oil prices can be at a third of their highs and yet Zambians are paying a very high price for the commodity.

He says this is another example of how poor leadership is failing to manage the economy for the benefit of Zambians.

The UPND leader notes that high fuel prices are driving up food and transport costs for Zambians across the country.

He adds that this is also making it harder for local businesses to grow, flourish and create much needed jobs.

Mr Hichilema further states that high fuel prices also raise the question of how the country can hope to export Zambian crops and products across the region when the cost of transporting them is so high.

The price of Brent crude oil has fallen below $50 a barrel for the first time since May 2009.

It fell more than a dollar to $49.92 a barrel in early trading on Wednesday before edging back above the $50 mark.

Slowing global growth and increased supply of oil and gas have pushed prices sharply lower in recent weeks.