The Energy Regulation Board (ERB) has raised pump prices for October, pushing petrol to K31.46 a litre and diesel to K33.27, after six months of tax relief on fuel came to an end.

Petrol rose from K25.29 and diesel from K26.86, adding more than K6 to every litre. Kerosene moved from K27.02 to K29.76 a litre, while Jet A-1 climbed from K28.71 to K31.85. The new prices took effect at midnight, following the expiry of the tax-relief period at the end of September.

ERB board chairperson James Banda said the increase was driven mainly by higher international petroleum prices, the depreciation of the Kwacha and the reinstatement of excise duty. The Board said the revised prices were set after weighing international prices, the prevailing exchange rate and applicable taxes.

Over the review period, the average price of petrol rose from US$104.94 to US$121.58 a barrel, while diesel went from US$150.92 to US$160.88. Kerosene and Jet A-1 moved from US$125.30 to US$144 a barrel. The Kwacha also lost ground against the United States dollar, slipping from K19.28 to K19.76, and Mr Banda said sustained tensions in the Middle East kept upward pressure on international prices throughout the period.

Mr Banda said Government had suspended excise duty and zero-rated Value-Added Tax (VAT) on petroleum products from April to September 2026, and that those measures had held the pump price down. He was clear about what would have happened without them.

“In the absence of these interventions, petroleum prices would have been materially higher,” he said.

He said the measures also helped keep Zambia’s petroleum prices among the lowest in the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA) regions, although they cost Government revenue it would otherwise have collected.

Government has resolved to reinstate excise duty from October to cushion the immediate impact on consumers, with VAT on petroleum products returning on 1 December 2026. Mr Banda said the country’s position in the region had not been lost.

“Notwithstanding the adjustment, Zambia’s petroleum prices remain competitive within the region,” he said.

The pump price rise came on the same day President Hakainde Hichilema told a delegation in Abu Dhabi that monthly fuel price changes are no longer working for the country. Mr Hichilema said the adjustments were creating uncertainty for businesses and households, and that frequent changes made planning difficult and complicated the management of the economy. Zambia is now considering longer pricing periods of two or three months.

The President raised the matter when he met Ahmed Bin Thalith, chief executive officer of ADNOC Global Trading, the trading arm of the Abu Dhabi National Oil Company (ADNOC), who led a delegation to the meeting. Afterwards, Mr Hichilema summed up what the two sides had discussed.

“We discussed how best to stabilise fuel prices and move away from monthly price adjustments,” the President said.

He said Government was keen to work with partners such as ADNOC on long-term supply arrangements that bring greater stability to fuel prices. The Head of State accepted that some of the factors driving prices, including global conflicts that disrupted international supply chains, were beyond Zambia’s control, but said the pricing mechanism itself could be improved.

“We may not control every factor that drives fuel prices, but we can make our pricing mechanism more predictable and business-friendly,” Mr Hichilema said.

A steadier mechanism, he said, would help businesses plan better instead of constantly having to adjust to changes in fuel prices.

Mr Bin Thalith said more investment in Zambia’s fuel infrastructure could secure the country’s domestic demand and create a surplus to supply neighbouring countries. He said ADNOC’s interest rested on its earlier experience of supplying Zambia, particularly in difficult periods, and on its record of honouring contracts in East Africa. ADNOC wanted a long-term partnership with Zambia rather than month-to-month arrangements, he said.

The company is also exploring ways to support local firms such as Indeni in managing and expanding the country’s petroleum terminals, while improving operational flexibility and capacity.

For motorists and transporters, the immediate position is the October price list. Petrol stands at K31.46 and diesel at K33.27, and VAT is due back on fuel on 1 December.

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