• Petrol rises to K27.15/litre, diesel to K29.78/litre after sharp global price increases

• International oil prices jumped by up to 102% during the review period

• Government suspends excise duty and VAT to cushion consumers

Zambia has increased fuel pump prices for April 2026, reversing the cut announced a month earlier, as a surge in global oil prices and a weaker currency pushed up import costs. According to the Energy Regulation Board (ERB) review of April 2026 pump prices, the price of petrol has been adjusted from K26.61 to K27.15 per litre, while diesel rose from K23.25 to K29.78 per liter. Kerosene and Jet A-1 recorded the steepest increases, rising to K32.26 and K34.74 per liter respectively.

The adjustments follow significant increases in international oil prices during the review period. Petrol prices rose by 62.84%, from $70.32 per barrel to $114.51, while diesel increased by 91.89% to $162.61 per barrel. Kerosene and Jet A-1 recorded the highest increase at 102.41%, reaching $169.92 per barrel, according to ERB data.

The rise in global prices has been attributed to heightened geopolitical tensions in the Middle East, which have disrupted supply expectations and driven volatility in international energy markets.

At the same time, the Zambian kwacha depreciated slightly from K19.18 to K19.30 per US dollar during the period, adding further pressure on domestic fuel prices in a country that relies heavily on imported petroleum products.

In response, the government has introduced temporary relief measures aimed at limiting the impact on consumers and businesses. Authorities announced the suspension of excise duty and the zero-rating of value-added tax (VAT) on petrol and diesel for a three-month period from April to June 2026.

Despite these measures, pump prices still increased, reflecting the scale of the rise in international oil costs.

The latest adjustments also mark a reversal from March 2026, when fuel prices were reduced following moderate increases in global oil prices and an appreciation of the kwacha. At the time, petrol prices had declined by 4.56%, while diesel and kerosene fell by 5.10% and 5.31%, respectively.

The April price changes highlight the continued exposure of Zambia’s fuel pricing to international market movements and exchange rate fluctuations, as well as the role of government intervention in moderating domestic price shocks.

By Cynthia Ebot Takang