September 23, 2019

Fuel prices go up again

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Hanganani Nleya

The Zimbabwe Energy Regulatory Authority, Zera, has increased the prices of petrol and diesel, in what has become the norm every Monday.

In a statement, Zera said with immediate effect, the price of petrol has been increased from $10.41 to $11.55 per litre, and that for diesel from $10.89 to $12.08 per litre.

The authority has attributed the incessant price increases to the high cost of landing fuel in Zimbabwe due to Free on Board movements on the international market.

The energy regulatory authority says fuel prices have always changed on a weekly basis since the multi-currency era, but because the prices were in US dollars, the shifts in pricing did not have much impact as is the case now when the southern African country adopted the Zimbabwe dollar.

The latest fuel price hike is expected to have a huge impact on the prices of basic commodities, which have been unstable following the phasing out of the multi-currency system in Zimbabwe.

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