In July 2024, the prices of petroleum products on the international market were higher than the
monthly average for June 2024. The increase was attributed to the continued rise in demand emanating from the summer driving season in the Northern Hemisphere and global supply concerns due to geo-political tensions in the Middle-East.
Since the last fuel price review on 30th June 2024, the price of Petrol increased by 7.75%; that is, from US$82.24/bbl to USŞ88.6 1/bbl, Diesel increased by 4.55% from US$91.70/bbl to US$95.87/bbl, while Kerosene /Jet A-1 increased by 4.18% from US$91.49/bbl to US$95.3 1/bbl.
During July 2024, the Kwacha depreciated against the United States Dollar (USD) by 8.15%, from K24.64US$ to K26.65/US$.