Fuel prices rise in Eswatini and Zambia amid global oil volatility

Southern African nations Eswatini and Zambia are implementing fuel price adjustments due to rising international oil costs and fiscal changes.

In Eswatini, the government has spent over E613 million through the Strategic Oil Reserve Fund to cushion consumers from global price volatility since February 2026. Minister for Natural Resources and Energy, HRH Prince Lonkhokhela, stated that because the country imports 100 per cent of its fuel, it is highly exposed to international market shocks. Due to mounting under-recoveries, a domestic price adjustment has become necessary to ensure the sustainability of the fuel supply.

In Zambia, the Energy Regulation Board (ERB) has increased pump prices for October 2026. Petrol prices will rise by approximately 24 per cent to K31.46 per litre, while diesel will increase to K33.27 per litre. These hikes are driven by higher global oil prices, a weakening kwacha, and the reinstatement of excise duty. The ERB noted that these measures are required to safeguard the security of supply.