PFEE: Mnangagwa’s govt hikes fuel prices (SEE NEW PRICES)

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THE Zimbabwe Energy Regulatory Authority (Zera) has increased the price of fuel by margins ranging between 30 percent and 33 percent with effect from yesterday.

However, in a public notice, Zera said the US dollar prices of last month at US$1,09 for diesel and US$1,18 for blend petrol remain unchanged.

Prior to the latest price adjustments, the pump price of petrol was pegged at $71,62 per litre while diesel was pegged at $62,77 a litre.

The new pump prices in local currency are now pegged at ZW$83,35 per litre for diesel while petrol was pegged at ZW$93,15 a litre in line with the exchange rate, which this week moved to US$1: ZWL$80.

During the forex auction trading system conducted Tuesday this week, the weighted average rate of 80,46 was recorded, up marginally from the 76,75 recorded last week Tuesday.

“Operators may, however, sell at prices below the cap depending on their trading advantages. Stakeholders are advised that the petroleum price released by Zera can be verified on the official Zera website, Facebook or twitter handle,” said the energy regulator.

Fuel companies are however yet to comply with dual pricing requirements, with fuel priced in Zimbabwe dollars becoming a rare commodity.

— Herald


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