Zambia: Homes, businesses to pay more for petrol, diesel in December (See details)

The Energy Regulation Board (ERB) has revised petroleum product prices upward for December 2024.

Petrol will now cost K33.67 per litre, reflecting a 97 ngwee increase, while diesel has seen the sharpest rise, moving from K30.11 to K32.47 per litre.

Jet A-1 has also been adjusted to K31.49 from K29.57, and kerosene will now cost K28.67 per litre, up from K26.95.

Read more: October fuel prices drop to K32.70 for petrol, diesel to sell for K28.90

In a statement issued in Lusaka on Saturday, ERB Board Chairperson, James Banda, attributed the increases to global oil price fluctuations and the depreciation of the Kwacha.

“This price review is driven by the movement in international oil prices and the weakening of the Kwacha,” Banda said.

He noted that, since the last price review on October 31, 2024, the international price of petrol dropped slightly by 1.34 percent from US$76.70 to US$75.67 per barrel.

However, diesel rose by 2.98 percent to US$86.19 per barrel, while Jet A-1 and kerosene prices increased by 3.08 percent to US$86.89 per barrel.

During the same period, the Kwacha depreciated by 2.90 percent against the United States Dollar, moving from K26.92 to K27.70.

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