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The Energy Regulation Board (ERB) has reduced the pump price of diesel from K33.99 to K32.11 per litre while maintaining the price of petrol at K27.15 per litre for the month of June.
The regulator has also reduced the prices of kerosene and Jet A-1 from K35.05 to K33.91 per litre and from K37.98 to K36.68 per litre, respectively.
ERB Board Chairperson, James Banda, said in a statement issued on Sunday that international oil prices recorded mixed movements during the review period, largely influenced by continued geopolitical tensions in the Middle East.
Read more: Energy Regulation Board raises fuel prices for December as global oil costs surge
Banda noted that the price of petrol continued to rise while those of diesel, kerosene and Jet A-1 declined.
He said the average international price of petrol increased from US$119.63 per barrel in the previous review window to US$124.24 per barrel.
Meanwhile, the average price of diesel declined from US$195.59 per barrel to US$155.64 per barrel, while kerosene and Jet A-1 prices fell from US$196.56 per barrel to US$155.45 per barrel.
During the same period, Banda said the Kwacha appreciated slightly against the United States Dollar, strengthening to K18.56 from K18.97 per US dollar.
As a result, the ERB maintained the pump price of petrol while implementing price reductions for diesel, kerosene and Jet A-1.
The new prices will take effect at midnight and will remain in force until the next price review by the ERB.
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