Africa-Press – Zambia. The Energy Regulation Board (ERB) of Zambia has announced an increase in the prices of petrol, diesel, and jet fuel, citing a combination of rising international oil prices and the depreciation of the Kwacha against the US dollar.
Effective from midnight tonight, Zambian motorists will feel the pinch at the pump as petrol prices surge by an average of 3 Kwacha 85 Ngwee per litre. This substantial increase means that a litre of petrol, which previously cost 25 Kwacha 55 Ngwee, will now set consumers back 29 Kwacha 42 Ngwee.
Similarly, diesel prices are also on the rise, jumping by 3 Kwacha 52 Ngwee per litre. Previously sold at 23 Kwacha 36 Ngwee, diesel will now be priced at 26 Kwacha 88 Ngwee.
Aviation enthusiasts are also affected, with Jet-A1 fuel prices soaring from 22 Kwacha 56 Ngwee to 26 Kwacha 42 Ngwee per litre.
However, in a glimmer of respite for consumers, the price of Kerosene remains unchanged at 20 Kwacha 44 Ngwee per litre, as Zambia has built up adequate reserves of this essential fuel source.
The ERB Board Chairperson, Raynolds Bowa, announced these fuel price adjustments, emphasizing that they are a direct response to global oil market fluctuations and the weakening of the Kwacha against the US dollar.
Zambia, like many nations, has grappled with the economic repercussions of these external factors, which have cascaded down to consumers in the form of higher fuel costs. The ERB’s decision aims to strike a balance between managing these economic challenges and ensuring a stable energy supply in the country.
As these new prices take effect, consumers and businesses are likely to feel the impact on transportation costs and overall living expenses. The ERB and the government will closely monitor the situation as they work to mitigate the effects of these price adjustments on the population.
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