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The Energy Regulation Board (ERB) has announced an increase in petrol prices for January 2025, while maintaining the price of diesel and other petroleum products.
The changes are attributed to nominal increments in international oil prices and the weakening local currency against major currencies, including the U.S. dollar.
Petrol prices have risen by K1, now selling at K34.67 per litre, while diesel remains unchanged at K32.43 per litre.
Kerosene and Jet-A1 will also remain the same, priced at K28.67 and K31.49 per litre, respectively.
ERB Board Chairperson, James Banda, explained in a statement on Tuesday that since the last review on November 30, 2024, the international price of petrol had increased by 3.32 percent, rising from US$75.67 per barrel to US$78.33.
Conversely, the price of diesel decreased by 0.10 percent from US$86.19 per barrel to US$86.10.
Read more: Fuel prices soar for August, petrol to sell at K33.47; diesel, K30.05
Banda further noted that kerosene and Jet-A1 saw a reduction of 1.39 percent, with prices dropping to US$85.68 per barrel.
“In December 2024, the Zambian Kwacha depreciated by 3.08 percent against the U.S. dollar, falling from K27.36/US$ to K28.20/US$,” he said.
He stated that the combined effects of these key pricing factors led to a noticeable increase in the domestic price of petrol.
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