For the first time since January, Zimbabwe’s motorists will pay less to fill up their tanks.
The Zimbabwe Energy Regulatory Authority (ZERA) announced new prices for petrol and diesel effective September 2, 2019, which will see the price of diesel dropping from RTGS$10.32 to RTGS$10.25.
Petrol will sell for RTGS$9.86, down from RTGS$10.01.
ZERA said the new prices are due to Free-on-board (FOB) price shifts.
“The changes in the fuel prices are due to FOB price movements and the revised duty regime (SI 161 OF 2019),” read a statement from ZERA.
The reduction in prices is a reflection of what ZERA boss, Edington Mazambani told Parliament a few weeks ago, that fuel prices in Zimbabwe will fluctuate on a weekly basis.
He indicated that this has been the case for the past eight years.
Fuel prices in Zimbabwe have been rising since January as the local currency declines against the US dollar and FOB prices change.