Zimbabwean News You Can Trust.
The Zimbabwe Energy Regulatory Authority (ZERA) has raised fuel prices in its latest review, which is effective February 10 2023.
In a statement, the regulator said petrol would now be sold at US$1.61 up from US$1.59 or ZW$1 341.07 up from ZW$1 241.01.
The authority also said the retail price for diesel is now US$1.70 up from US$1.68 or ZW$1 418.08 up from ZW$1 315.09.
“The public and operators are advised that the blending ratio remains at E5. Stakeholders are advised that a decision has been made to migrate to monthly as opposed to weekly pricing that has been in place since May 2022.
“This is to ensure stability over a longer period. As a starting point, the current review is for two weeks. Operators may sell petroleum products below the prescribed levels depending on their trading advantages and display prices as per regulations. Stakeholders are advised that the petroleum price releases by ZERA can be verified on the official ZERA website, Facebook or Twitter handle,” reads part of the statement.
Meanwhile, the average price of diesel around the world is 1.31 U.S. dollars per litre while the average price of gasoline around the world is 1.30 U.S. dollars per litre.
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.
