The Zambian government has increased fuel pump prices for December, effective midnight.
According to the Energy Regulation Board (ERB), the price adjustments are as follows:
Petrol: From K32.70 to K33.67 per liter
Diesel: From K30.11 to K32.43 per liter
Kerosene: From K26.95 to K28.67 per liter
Jet A-1: From K29.57 to K31.49 per liter
ERB attributes the price hike to the movement in international oil prices and the depreciation of the Zambian Kwacha against the United States dollar.
This development comes as Zambia’s neighboring country, Malawi, has been experiencing a fuel crisis, prompting consumer rights groups and economists to call for an adjustment in fuel prices in Malawi.
In Malawi, the fuel crisis has resulted in long queues at fueling stations, with many motorists spending hours waiting to fill up their tanks.
The crisis has also affected businesses, particularly those in the transportation sector, which have been forced to either suspend operations or increase fares.
The Malawi government has been under pressure to address the crisis, with some calling for an increase in fuel prices to reflect the current market situation.
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