In response to the recent currency fluctuations, the Energy Regulation Board (ERB) of Zambia has announced an adjustment in the pump prices of key petroleum products, effective midnight on January 31, 2024.
The revised prices are as follows:
- Petrol: Increased to K34.19 ngwee per litre from K29.98 ngwee.
- Diesel Low Sulphur Gasoil (LSG): Increased to K32.15 ngwee per litre from K29.96 ngwee.
- Jet A-1 Fuel: Increased to K32.69 ngwee per litre from K29.29 ngwee.
- Kerosene: Maintained at K20.44 ngwee per litre.
ERB Board Chairperson Reynolds Bowa explained that the adjustment is a direct result of the Kwacha’s depreciation in January 2024. The depreciation has impacted domestic wholesale and pump prices, excluding Kerosene, which remains unchanged due to sufficient national stocks.
Consumers are urged to take note of these adjustments, and the ERB assures that it will continue to monitor market conditions to ensure fair pricing and availability of petroleum products in the country.