By: Ecofin agency

Zambia's Energy Regulation Board (ERB) reduced diesel, kerosene and jet fuel prices for June 2026 after declines in international refined petroleum prices and a modest appreciation of the kwacha against the US dollar.

Effective June 1, diesel prices were lowered to K32.11 per liter from K33.99 per liter, kerosene prices fell to K33.91 from K35.05, and Jet A-1 prices declined to K36.68 from K37.98. Petrol prices were left unchanged at K27.15 per liter.

According to the ERB, the adjustments reflected movements in international fuel markets during the review period. The regulator said the benchmark price of diesel fell to US$155.64 per barrel from US$195.59 per barrel in the previous pricing cycle, while the kwacha strengthened to K18.56 per US dollar from K18.97.

The latest reductions follow sharp fuel price increases announced in May after global oil markets reacted to heightened geopolitical tensions in the Middle East. At the time, diesel prices rose from K29.78 per liter in April to K33.99 per liter in May, representing an increase of more than 14%.

Although June's adjustment provides some relief for consumers and businesses, diesel prices remain above levels recorded before the May increase. At K32.11 per liter, diesel is still K2.33 higher than the April price of K29.78 per liter. The June reduction reversed less than half of the increase recorded in May.

The development is particularly significant for Zambia's mining, transport and agricultural sectors, which rely heavily on diesel-powered equipment and logistics networks. According to the Zambia Statistics Agency, mining remains the country's largest export sector, accounting for more than 70% of export earnings through copper and related mineral exports. Road transport also carries most domestic and regional freight movements, making fuel costs an important factor in supply-chain expenses.

The price adjustment comes as international oil markets continue to respond to changing supply and demand conditions. While crude oil and refined fuel prices eased during the ERB's review period, fuel markets remain sensitive to geopolitical developments, refinery disruptions and shipping costs.