Happy New Year! Fuel Prices Ring in 2025 with a K1 Increase
Start 2025 with a “bang” as petrol prices see an unexpected rise of K1 per litre. Just what we all needed!
The Energy Regulation Board (ERB) is kicking off the New Year in the most fitting way possible: with a gift for motorists in the form of a K1 increase in the pump price of petrol. Starting midnight on December 31, 2024, the price of petrol will rise from K33.67 to K34.67 per litre. After all, what’s a new year without a little extra burden at the pump, right?
According to ERB Chairperson James Banda, the price hike is due to various factors including international oil price increases and exchange rate movements. Petrol prices on the global market have risen by 3.52%, going from US$75.67 per barrel to US$78.33 per barrel. But of course, it’s always good to start the year with a higher fuel cost, right? After all, who doesn’t enjoy paying more for the same product? It’s not like we’re already facing a rising cost of living!
While petrol prices get their new year’s gift, not all fuel types are getting the same treatment. Diesel, kerosene, and jet A-1 have remained unchanged, as their wholesale prices haven’t moved enough to warrant a price adjustment. But don’t worry these fuel types will happily keep their prices steady at K32.43, K28.67, and K31.49 per litre, respectively. No surprises here. Just keep paying the same old prices for now, at least.
Mr. Banda was quick to point out that the real culprit behind the rise is the steady depreciation of the Zambian Kwacha against the US Dollar, which dropped 3.08% from K27.36/US$ to K28.20/US$. Because, obviously, a weaker currency means you should pay more for everything, especially something as essential as fuel. Happy New Year, indeed
The timing of this price adjustment couldn’t be more fitting the increase takes effect just in time for the New Year. As the clock strikes midnight on December 31, 2024, so too will the higher fuel prices. What better way to start 2025 than by paying more at the pump? It’s like a tradition at this point, right? A little extra burden to kick off the year with enthusiasm.
So, here’s to 2025: a year filled with new beginnings, fresh challenges, and of course, more expensive fuel. Let’s all raise a glass to the K1 price hike – a true “gift” to all Zambian motorists.
The administration doesn’t deserve re-election in 2026…
But Angola just reduced to about 0.30 cents per liter of K8/ltr. Do you have calculator?
Send those PF tankers to Angola and get some petrol, they can even go via Namibia. Foolishness is a worst disease.
What we really need is a leader that can control the administration
No, What we really need is a leader who can be sworn-in in the morning and by 14h00 he has strengthened the Kwacha to single digit against the dollar. He should bring the mealie Meal price down to K10. 00
When global prices are going up, it’s only logical that even the pump prices also go up . What the government needs to do now is to ensure that the exchange rate is managed so that the cost of living doesn’t go beyond
I agree this K1 is a political move only
Plus no petrol around desite being told they working on it
What a new Years eve ??
NO ZESCO
NO PETROL
Even during the PF time international prices were going up and yet Mr Hakainde Hichilema condemned the 17 kwacha per liter as theft by the PF government…I quote: petrol is supposed to go at K10.00 per liter which means seven kwacha is going into their pockets.
New dawn keep boasting of ninety percent
Achievement in three years?
K1 is too high. We need a new Minister of Finance
No No the top man must take responsibilty for his underlings
Less than one cent, 0.28 to be precise. It’s too much!
That price is almost $5US dollars in US gallon equivalent .How can Zambians afford such with their low earnings of $3 per day on average?
The people that earn $3 day don’t own cars, also fuel went up worldwide because the US dollar has sky rocketed and fuel is sold in USD. Fuel has gone up worldwide not just Zambia to be fair
And yet that Upnd cadre Habeenzu was telling us that the economy had picked up.
You can have lower fuel price if you subsidise it. Take the money from where? The government can give tax incentives to businesses to run hopefully electric vehicles. Private cars should be taxed to help pay for this. Climate change is what the topic should be about less cars the better.
Fuel is used in more than private cars, its used in Farming, goods transport, bus and taxi transport and now because of Zesco Incompetence Gensets to keep the power on for businesses. So taxing us more is going to cost everyone more.
What you have increased is just on paper. There is no fuel available even with the increase.
That’s what’s known by upnd government. They increase so that they reduce.