Fuel Price Reductions to Save Consumers One Billion Kwacha

Recent figures show that ongoing reductions in fuel prices are expected to save Zambian consumers a total of one billion Kwacha. This follows a series of sustained price cuts over the past three months.

Energy expert Johnstone Chikwanda explained that the benefits of declining pump prices are now beginning to be felt by consumers of petroleum products. He noted that in June alone, consumers are expected to save approximately 250 million Kwacha, adding to the 700 million Kwacha saved in April and May, bringing the total savings to one billion Kwacha.

“This is a significant amount of savings that will provide much needed relief to fuel consumers,” Chikwanda said.

On Thursday, the Energy Regulation Board (ERB) announced further reductions in pump prices. Diesel decreased from K27.38 to K25.12, petrol dropped from K32.14 to K31.36 and kerosene was reduced from K26.88 to K24.79

These price reductions are expected to translate into broader economic relief, particularly through a decrease in the cost of basic goods and services, which are directly affected by fuel prices.

Dr. Nicholas Mainza, National Secretary of the Economics Association of Zambia (EAZ), highlighted the impact of high fuel prices on the transportation of goods, noting that lower fuel costs can ease pressure and improve household purchasing power.

Leslie Chikuse, President of the Republican Progressive Party (RPP), commended the government’s energy polices for strengthening economic stability and improving consumer welfare.