ZIM Fuel Prices Goes Up

Zimbabwean News You Can Trust.

The Zimbabwe Energy Regulatory Authority (ZERA) has raised fuel prices in its latest review, which is effective January 26, 2023.

In a statement, the regulator said petrol would now be sold at US$1.59 or ZW$1 241.01 up from US$1.54 or ZW$1 124.61.

The authority also said the retail price for diesel is now US$1.68 or ZW$1 315.09, up from US$1.62 or ZW$1 188.77.

The statement reads, “The public and operators are advised that the blending ratio remains at E5. Operators may sell the petroleum products below the prescribed prices, depending on their trading advantages, and should display prices in a prominent place as provided for by the fuel pricing regulations. Stakeholders are advised that the petroleum price releases by ZERA can be verified on the official ZERA website, Facebook or Twitter handle.”

Meanwhile, the average price of diesel around the world is 1.33 U.S. Dollars per litre while the average price of gasoline around the world is 1.30 U.S. Dollars per litre.

President Emmerson Mnangagwa last year directed that duty on fuels be reduced by US 13 cents, among other measures to ensure the supply in the market remains stable and affordable.

Fuel prices went up in February, with the government attributing the increase to the war between Russia and Ukraine, which they said disrupted global trade as the two countries are the main producers of oil.

 

A Journalist, writer and photographer

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