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The Energy Regulation Board (ERB) has reduced the prices of petroleum products for July 2026, citing lower international oil prices and a marginal appreciation of the Zambian Kwacha against the United States dollar.
The revised prices, which take effect at midnight on June 30, will see petrol retail at K26.15 per litre, down from K27.15, while diesel has been reduced by K4.00 to K28.11 per litre from K32.11.
Kerosene has been cut from K33.91 to K28.32 per litre, while Jet A-1 fuel has been reduced from K36.68 to K30.27 per litre.
According to the ERB in a statement issued on Tuesday, the review was influenced by declining global oil prices during the pricing period despite continued geopolitical tensions in the Middle East.
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The average price of petrol on the international market fell from US$124.24 per barrel to US$105.82 per barrel, while diesel dropped from US$155.64 per barrel to US$125.65 per barrel.
Kerosene and Jet A-1 prices also declined from US$196.56 per barrel to US$158.97 per barrel.
The board also noted that the kwacha strengthened slightly against the US dollar, appreciating from K18.42 per US dollar to K18.26 per US dollar, a development that further contributed to the reduction in local pump prices.
ERB Board Chairperson, James Banda, said the combination of lower international oil prices and a stronger local currency formed the basis for the July price review.
“During the review period, international oil prices generally reduced, although markets remained affected by geopolitical tensions in the Middle East. The combination of the movement in international oil prices and exchange rate formed the basis for the July 2026 pump prices,” Banda said.
He added that the revised pump prices would remain in force until the next scheduled price review.
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