THE Energy Regulation Board has reduced the price of petrol from the current K26.75 per litre to K23.19 per litre.
This is a reduction by K3.56 and the change will be effected at midnight.
The board has also reduced diesel from the current K28.1 per litre to K24.87 per litre.
ERB Board chairperson Reynolds Bowa said the adjustment downwards of petroleum products was due to the movements of fuel in the international market and a favourable performance of the Zambia Kwacha.
Mr Bowa during a press briefing today in Lusaka said also that the current pump price for Kerosene had also dropped from the current K21.27 to K18.43 per litre.
“ERB has adjusted downwards pump prices for petroleum products. Petrol has been reduced by K3.56 per litre, low sulphur diesel by K3.14 per liter and Kerosene by K2.84 per litre. This review is based on the ERB principle where the board considered movements in file on the international market and and a drop in the dollar during the month of July. Movement represents average decline in international petroleum products and the drop of the dollar is due to favorable performance of the Kwacha,” he said.
He added that the adjustment downwards would be effected at midnight today.