ERB Announces New Fuel Prices for August 2024
In light of significant shifts in the global oil market, the Energy Regulation Board (ERB) has updated fuel prices for August 2024.
These changes are vital for vehicle owners and sellers on Pazengo.com, as fuel prices directly affect vehicle maintenance and operational costs.
Global Market Impact:
Due to rising crude oil prices, the costs for petrol, diesel, and kerosene have increased internationally. Petrol has risen to US$88.6 per barrel from US$82.24 per barrel, diesel to US$95.87 per barrel from US$91.70 per barrel, and kerosene to US$95.87 per barrel from US$91.70 per barrel.
Effect of Kwacha Depreciation:
The Kwacha has depreciated against the US Dollar by an average of 8.15%, further influencing local fuel prices.
Revised Pump Prices
- Petrol: Now K33.47 per litre
- Diesel: Increased to K30.05 per litre
- Kerosene: Adjusted to K27.52 per litre
- Jet A-1: Now K30.53 per litre
Airport Fuel Pricing
Fuel prices at key international airports, including KKIA (Lusaka), Mfuwe, HMNIA (Livingstone), and SMKIA (Ndola), now range from K30.53 to K31.74 per litre.
Effective Date
These new prices will be effective from midnight on July 31, 2024, until further notice from the ERB.
Impact on Goods and Motorists
The rise in fuel prices not only affects vehicle owners but also has a broader impact on the prices of goods and the overall cost of living. Higher fuel costs lead to increased transportation expenses, which in turn can raise the prices of everyday goods. This escalation can strain the livelihoods of motorists and the general public, making fuel efficiency and cost management more critical than ever.
Discover Fuel-Efficient Vehicles
Looking to cut down on fuel expenses? Explore our range of fuel-efficient cars in our listings. Check them out here.
For a detailed breakdown of the new fuel prices, read the full ERB press release. See here.
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