Zambia: Fuel Prices Rise For November As Kwacha Weakens

Zambia’s Energy Regulation Board (ERB) has increased fuel pump prices for November, citing higher international prices for some petroleum products and a depreciation of more than 3% in the kwacha against the U.S. dollar.

Petrol will sell at 33.06 kwacha per litre, up from 31.46 kwacha, while diesel will rise to 34.45 kwacha from 33.27 kwacha, the regulator said in a statement issued by its Board Chairperson, James Banda, on Saturday, October 31.

Kerosene will increase by 2.32 kwacha to 32.08 kwacha per litre, while Jet A-1 will rise by 2.66 kwacha to 34.51 kwacha per litre.

The revised prices took effect at midnight on October 31 and will remain in force until the next price review, according to the statement.

The regulator said sustained geopolitical tensions in the Middle East had generally pushed international oil prices higher during the review period.

Average international petrol prices rose to $125.84 per barrel from $121.58, while kerosene and Jet A-1 prices increased to $153.22 per barrel from $144.00.

International diesel prices, however, fell to $154.71 per barrel from $160.88.

The ERB said movements in international petroleum prices and the exchange rate were the main factors behind the November pump price adjustments.

Zambia reviews fuel prices monthly.