Petrol, diesel prices slashed

THE Energy Regulation Board (ERB) has announced a reduction in fuel pump prices for July 2026, with the prices of both petrol and diesel slashed by K1 and K4 respectively.

The ERB is citing lower international oil prices and a slight appreciation of the Zambian Kwacha against the United States Dollar.

In a statement, ERB Board Chairperson James Banda says the revised prices would take effect at midnight as of June 30, 2026, and remain in force until the next monthly review.

Mr Banda said the decision followed a decline in global petroleum prices during the review period, despite continued market uncertainty caused by geopolitical tensions in the Middle East.

“During the review period, international oil prices generally reduced, although markets remained affected by geopolitical tensions in the Middle East. The combination of the movement in international oil prices and exchange rate formed the basis for the July 2026 pump prices,” he said.

Under the new pricing structure, petrol has been reduced by K1.00, moving from K27.15 to K26.15 per litre, while diesel has recorded one of the biggest reductions, falling by K4.00 from K32.11 to K28.11 per litre.

Meanwhile, kerosene has dropped by K5.60, from K33.91 to K28.32 per litre, while Jet A-1 fuel has been reduced by K6.41, moving from K36.68 to K30.27 per litre.

The Energy Regulation Board said the reduction was also influenced by improved performance of the local currency during the review period.

“During the same period, the Zambian Kwacha appreciated marginally against the United States Dollar, moving from K18.42 per US Dollar to K18.26 per US Dollar,” he said.

The regulator noted that diesel and aviation fuel registered the largest percentage reductions, with diesel decreasing by 12.46 percent, kerosene by 16.51 percent, and Jet A-1 by 17.48 percent.

The latest adjustment is expected to bring relief to motorists, transport operators, businesses and households that depend on petroleum products, especially as fuel costs remain a key factor influencing transportation and commodity prices.

“The revised prices will take effect at midnight on 30th June 2026 and will remain in force until the next price review,” he said.