Zambia has reduced the pump prices of diesel, kerosene and aviation fuel for June while maintaining the price of petrol, as lower international prices for refined fuel products and a stronger local currency helped ease costs, the country’s energy regulator said.
The new prices, announced by the Energy Regulation Board (ERB) on Sunday, took effect on Monday.
Under the revised pricing structure, petrol remains unchanged at 27.15 kwacha (US$1.48) per litre. Diesel has been reduced by 1.88 kwacha to 32.11 kwacha per litre, while kerosene falls by 1.14 kwacha to 33.91 kwacha per litre. The price of Jet A-1 aviation fuel has also been lowered by 1.30 kwacha to 36.68 kwacha per litre.
The ERB attributed the adjustments to mixed movements in international petroleum prices during the latest review period, coupled with an appreciation of the Zambian currency against the U.S. dollar.
According to the regulator, international petrol prices increased during the review cycle, rising from $119.63 per barrel to US$124.24 per barrel. The increase was linked to ongoing geopolitical tensions in the Middle East, which have continued to raise concerns about potential disruptions to global oil supplies.
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However, prices for other refined petroleum products moved in the opposite direction.
International diesel prices fell significantly from US$195.59 per barrel to US$155.64 per barrel during the review period. Kerosene and Jet A-1 prices also declined sharply, dropping from US$196.56 per barrel to US$155.45 per barrel.
The ERB said the lower international prices for diesel, kerosene and aviation fuel created room for reductions in domestic pump prices despite the rise in petrol prices on global markets.
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The regulator also cited gains in the exchange rate as a contributing factor.
The Zambian kwacha strengthened from 18.97 kwacha per U.S. dollar during the previous pricing cycle to 18.56 kwacha per dollar in the latest review period.
A stronger local currency reduces the cost of importing fuel, which is purchased in dollars, helping to cushion consumers from fluctuations in international markets.
ERB Board Chairperson James Banda said the June fuel price adjustments were based on the combined effect of changes in international oil product prices and the appreciation of the kwacha.
Fuel prices are closely watched in Zambia because of their impact on transport costs, inflation and broader economic activity. Changes in fuel costs often influence the prices of goods and services across the economy, particularly in a country where road transport plays a central role in the movement of goods and people.
The latest reduction in diesel prices is expected to be welcomed by businesses, transport operators and consumers, given diesel’s importance in commercial transportation, agriculture, mining and power generation.
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The decision to keep petrol prices unchanged reflects the upward pressure from international gasoline markets, which offset the benefits of the stronger kwacha.
Zambia reviews fuel prices periodically through a pricing mechanism that takes into account international petroleum prices, exchange-rate movements and other cost factors.
The June adjustment comes as governments across Africa continue to monitor global energy markets amid ongoing geopolitical uncertainties and fluctuating demand patterns that have contributed to volatility in oil and fuel prices worldwide.
For motorists and businesses in Zambia, the latest review offers some relief through lower diesel and kerosene costs, while petrol users will continue to pay the same price as in the previous month.
