Zambia ERB Raises Fuel Prices Amid Kwacha Decline and Oil Surge
The Energy Regulation Board (ERB) has announced an upward adjustment in the pump prices for petroleum products, effective from midnight.
- Petrol will rise to K33.67 per litre, up from K32.70.
- Diesel will increase to K32.43 per litre, from K30.11.
- Kerosene has been adjusted to K28.67 per litre, from K26.95.
- Jet-A-1 will now cost K31.49 per litre, up from K29.57.
ERB Chairperson James Banda attributed the price increase to the rise in international oil prices and the depreciation of the Zambian Kwacha against the US Dollar. He further explained that since the last price review on October 31, 2024, the Kwacha had depreciated by over 2 percent against the US Dollar.
SOURCE:znbc
