Zambia’s Energy Regulation Board (ERB) has announced an eight percent reduction in diesel prices effective Wednesday as part of efforts to align with competitive market trends.
The pump price of diesel has been reduced to K30.23 (about US$1.07) per litre, down from K32.54 per litre for the month of April.
ERB board chairperson James Banda confirmed that while diesel prices have been adjusted, the pump prices for petrol, kerosene and jet A-1 fuel remain unchanged.
Petrol will continue to retail at K34.98 per litre, kerosene at K29.56 per litre and jet A-1 fuel at 32.51 per litre.
The price revision coincides with the implementation of Zambia’s Open Access tender process, which took effect on 1 April 2025.
Under this system, premiums on fuel, particularly diesel, will fluctuate monthly based on competitive bidding.
Banda disclosed that for April, a premium of 84 United States dollars per metric tonne emerged as the most competitive bid through the Open Access framework.
The Open Access tender process, introduced to encourage transparency and market-driven pricing, allows multiple fuel suppliers to bid for the right to import fuel into Zambia.
By fostering competition, the system aims to stabilise fuel prices and ensure efficiency in the supply chain.
The price reduction is expected to provide some relief to consumers and businesses, offering hope for broader cost-saving measures as Zambia continues to refine its energy procurement policies.
JN/APA