Mnangagwa’s government increases fuel prices again (SEE NEW PRICES)

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THE Zimbabwe Energy Regulatory Authority (Zera) has announced a slight increase in local currency fuel prices while the foreign currency prices remain stable.

The increase is effective from yesterday.

In a public notice issued yesterday, the energy regulator pegged the new price for diesel 50 in local currency at $699,62 per litre up from $661,73 while that of blended petrol (E15) rose to $659,80 from $623,16.

The foreign currency price remains pegged at US$1,88 per litre for diesel and US$1,77 for petrol.

The previous fuel price review was announced on June 25 after an earlier review on June 7.

The continued fuel price increase has been linked to the global supply chain disruptions occasioned by the on-going political unrest between Russia and Ukraine.

However, in its previous price review notice, Zera revealed that the Government has intervened in making sure that the fuel prices remain stable.

“The prices would have been at US$2,01 for diesel and blend at US$1,84 without Government intervention,” said the regulator.
Zera said the blending ratio remains at E15.

“Operators may sell petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided by the fuel price regulation,” said Zera.

— Chronicle


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