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ERB keeps September fuel prices unchanged despite Kwacha pressure
Zambia’s Energy Regulation Board (ERB) has maintained September prices for petrol, diesel, kerosene and Jet A-1 fuel despite higher international oil prices and depreciation of the Kwacha against the U.S. dollar. The ERB said the decision was supported by policy interventions, including the zero-rating and…
Picture: Zambia Monitor
Zambia’s Energy Regulation Board (ERB) has maintained September prices for petrol, diesel, kerosene and Jet A-1 fuel despite higher international oil prices and depreciation of the Kwacha against the U.S. dollar.
The ERB said the decision was supported by policy interventions, including the zero-rating and suspension of Value Added Tax (VAT) and excise duty on petroleum products.
Petrol will continue to sell at K25.29 per litre, while diesel will remain at K26.86 per litre, the same prices set for August.
Kerosene has also been maintained at K27.02 per litre, while Jet A-1 will remain at K27.71 per litre.
ERB Board Chairperson, James Banda, said international prices for petrol, diesel, kerosene and Jet A-1 had increased due to sustained geopolitical tensions in the Middle East.
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“This resulted in the upward pressure on the domestic prices from a combined international oil prices and the exchange rate,” Banda said.
He said despite changes in the underlying market fundamentals, the regulator had maintained domestic pump prices because of the policy interventions.
The revised prices will take effect from midnight on Aug. 31 and remain in force until the next monthly review.
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