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Zambian consumers: rising oil prices threatening |
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09:53, June 10, 2008 |
The Zambia Consumers Association has said that soaring price of oil at the international market will have a huge negative impact on growing economies of the world such as Zambia.
Zambia National Broadcasting Corporation (ZNBC) on Monday quoted Chief Executive Officer of the association Muyunda Ililongaas saying that there is urgent need for the Zambian government to find short-term solutions to caution the expected rise in oil prices.
He told the ZNBC that establishing many strategic fuel reserves will protect consumers from higher oil prices in short term
He said in the long run it is important that the government intensifies exploration to find local oil deposits.
Source:Xinhua
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