By Ebi Kesiena
Zambia has reduced the pump prices of all major petroleum products for July following a decline in international crude oil prices and a slight appreciation of the local currency, the Kwacha, against the US dollar.
The country’s Energy Regulation Board (ERB) announced that the new prices took effect on Wednesday after its routine monthly review of global oil market trends and exchange rate movements.
Under the revised pricing, petrol now sells at K26.15 per litre, down from K27.15, representing a K1.00 reduction. Diesel recorded one of the biggest cuts, dropping by K4.00 per litre from K32.11 to K28.11.
Paraffin also saw a significant decrease, falling by K5.60 from K33.91 to K28.32 per litre, while Jet A-1 aviation fuel declined by K6.41, from K36.68 to K30.27 per litre.
According to the ERB, the downward adjustment was driven by lower international oil prices during the review period, alongside the modest strengthening of the Kwacha, which helped reduce the cost of fuel imports.
The price cuts are expected to provide relief for motorists, businesses and households, as fuel costs remain a major factor influencing transportation expenses and inflation in Zambia. The move comes as the country continues to manage the effects of global energy market volatility while seeking to ease pressure on the domestic economy.
