THE Zimbabwe Energy Regulatory Authority (Zera) has increased prices for diesel and blend with effect from today.
The review follows adjustments made in February when Zera cited a general rise in fuel prices on the international market in January this year.
According to the statement from the regulatory board, the new prices of Diesel 50 are $111,77 from $110,41 per litre while Blend (E10) is $112,96 from $109,17. In US dollars, the price of diesel 50 remains the same US$1,32 while petrol is now US$1,34 from US$1,30.
“Fuel operators may however, sell at prices below the cap depending on their trading advantages,” read the statement from Zera.
In January 2021, the fuel prices were $100,91 or US$1,23 per litre of D50 while blend (E10) was pegged at $99,35 and US$1,21. In February the prices were $105,58 or US$1,27 per litre of Diesel 50 and $104,82 or US$1,26 per litre of Blend (E10).
Zera urged stakeholders to verify petroleum fuel prices on its official website, Facebook and Twitter handle @zeraenergy.
Since January this year, there have been increases in the Free on Board (FOB) prices for petrol and diesel and this has a knock-on effect on the pump price of fuel. The FOB refers to the costs of shipping the product and as a net importer of fuel, any rise in the FOB results in price increases for the product.