LUSAKA (Reuters) – Zambia’s retail fuel prices will fall from midnight on Tuesday due to subdued oil prices and a stronger kwacha currency, the energy regulator said.

The price of petrol will be reduced to 12.50 kwacha from 13.70 kwacha and diesel will drop to 10.72 kwacha per litre from 11.40 kwacha per litre.

In October last year, Zambia hiked the retail price of petrol by nearly 39 percent, while the price of diesel was increased by 33 percent.

($1 = 718.5000 kwacha)

(Reporting by Chris Mfula; Editing by Joe Brock)