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The Energy Regulations Board (ERB) has responded to the recent Kwacha stability by reducing the March fuel pump price.
Petrol will fetch at K31.12 per litre from K34.19 while diesel had been reduced to K28.78 per litre from K32.15 traded in the month of February.
Kerosene remained at K20.44 while Jet-A dropped to K28.23 from K32.69.
Read more: Petroleum prices hit historic mark, as fuel rises to K34.19, diesel K32.15 per liter
In statement on Thursday, ERB Board Chairperson, Reynolds Bowa, attributed the drop to the appreciation of the Kwacha.
Bowa said the Kwacha appreciated significantly thereby outweighing the increase in oil prices on the international market.
“On the forgoing, we have decided to reduce the price of fuel pump prices, petrol will now fetch K31.12 from K34.19, diesel has been reduced to K28.78 per litre from K32.15,” he said.
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