ERB slashes fuel pump prices for May 2025, says international oil prices down, value of Kwacha up

The Energy Regulation Board (ERB) has announced a reduction in fuel pump prices for the month of May 2025, citing a decline in international oil prices and a marginal appreciation of the Kwacha.

According to a statement issued on Wednesday, ERB Board Chairperson James Banda said the price adjustments apply to Petrol, Diesel, Kerosene, and Jet A-1.

The new pump prices are as follows:

• Petrol: reduced by K2.84, from K35.00 to K32.14 per litre.

• Diesel: reduced from K30.23 to K27.38 per litre.

• Kerosene: reduced from K29.56 to K26.88 per litre.

• Jet A-1: reduced from K32.51 to K29.44 per litre.

Banda explained that during the last review on March 31, 2025, the international price of petrol fell by 3.81 percent, from US$76.38 per barrel to US$73.47 per barrel.

Diesel prices dropped by 4.37 percent, from US$83.44 to US$79.79 per barrel, while Kerosene and Jet A-1 prices declined by 4.28 percent, from US$82.53 to US$79.00 per barrel.

In addition, the Kwacha appreciated slightly in April 2025, strengthening by 0.06 percent, from K28.27/US$ to K28.25/US$.

Banda said these combined factors warranted a significant reduction in domestic fuel prices.

“Based on the foregoing, the ERB found it appropriate to adjust the pump prices of petroleum products for the month of May,” he said.

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