By John Chola

The Energy Regulation Board (ERB) has announced a reduction in petroleum pump prices for July 2026, offering relief to motorists and businesses following a decline in international oil prices and a slight appreciation of the Zambian Kwacha.

Under the new pricing regime effective midnight, 30 June 2026, petrol will retail at K26.15 per litre, down from K27.15, while diesel has been reduced to K28.11 per litre from K32.11.

Kerosene prices have fallen to K28.32 per litre from K33.91, while Jet A-1 has been reduced to K30.27 per litre from K36.68.

The ERB said the reductions followed a review period during which international oil prices declined despite continued geopolitical tensions in the Middle East.

The average price of petrol on the international market dropped from US$124.24 per barrel to US$105.82 per barrel, while diesel reduced from US$155.64 per barrel to US$125.65 per barrel.

Kerosene/Jet A-1 prices also fell from US$196.56 per barrel to US$158.97 per barrel.

The regulator further noted that the Kwacha strengthened marginally against the United States Dollar, moving from K18.42/US$ to K18.26/US$, contributing to the downward adjustment.

The latest review represents reductions of K1.00 per litre for petrol, K4.00 for diesel, K5.60 for kerosene, and K6.41 for Jet A-1.

ERB said the revised prices will remain in effect until the next monthly fuel price review.