FUEL PRICES SKYROCKET BY OVER K6
….as motorists face heavy blow at the pumps
FUEL PRICES SKYROCKET BY OVER K6
….as motorists face heavy blow at the pumps
By DAVID KANDUZA
ZAMBIAN consumers woke up to a harsh economic reality on October 1, 2026, as the Energy Regulation Board (ERB) announced a massive, double-digit spike in petroleum pump prices.
Driven by an unforgiving perfect storm of international geopolitical turmoil, a sliding local currency and the sudden expiration of Government tax cushions, the latest adjustment represents one of the steepest single-month hikes in recent history.
Effective midnight on September 30, 2026, the price of Petrol surged by K6.17, jumping from K25.29 to K31.46 per litre.
Transporters and industries heavily reliant on commercial transit face an even deeper sting, with Diesel climbing by K6.41 to settle at K33.27 per litre from its previous price of K26.86.
Low-income households using Kerosene were not spared either, as its price escalated by K2.75 to K29.76 per litre, while aviation fuel, Jet A-1, flew up by K3.14 to K31.85 per litre.
According to an official statement released by ERB Board chairperson James Banda, the domestic market could no longer outrun international headwinds.
Aggressive geopolitical tensions in the Middle East heavily disrupted global supply chains during the September review period, forcing international oil benchmarks upward.
The average cost of a barrel of petrol shot up from US$104.94 to $121.58, while diesel climbed from $150.92 to $160.88 per barrel.
Compounding these external global pressures was the vulnerability of the local economy.
The Zambian Kwacha steadily depreciated against the US dollar, weakening from K19.28/$ to K19.76/U$, significantly increasing the cost of importing refined petroleum products.
However, the final blow to stable pump prices came from home.
For six months—from April to September 2026—the Government had successfully insulated citizens by suspending excise duty and zero-rating Value Added Tax (VAT) on fuel.
With that critical tax-relief window officially expiring at the end of September, the reinstatement of excise duty pushed retail prices well beyond previous thresholds.
While the ERB maintains that regulatory price-smoothing mechanisms were still actively working to prevent even more catastrophic price spikes, the psychological and financial toll on everyday Zambians was immediate.
Long queues snaked out of service stations across major cities like Lusaka and Ndola hours before midnight, as desperate motorists scrambled to fill up their tanks one last time under the old pricing regime.
The ERB had reassured the public that despite import logistics and volatile pricing variables, national fuel stocks remained completely secure to ensure uninterrupted supply.
Nevertheless, as commuters brace for an inevitable ripple effect on public transport fares and supermarket grocery bills, the arrival of October had brought an undeniable chill to the pockets of the nation.