THE price of petrol and diesel has gone down by nine cents and four cents respectively effective Monday, November 4, 2019, according to the Zimbabwe Energy Regulatory Authority (Zera).

The marginal decline follows a 12 percent increase in fuel prices last week in what has become a weekly price review. 

The energy regulator said the price of petrol effective Monday would be $16.66 from $16.75. Diesel, on the other hand, will cost $17.43 from $17.47.

“Operators may, however, sell at prices below the cap depending on their trading advantages,” Zera said.

In Bulawayo service stations like Puma confirmed the downward adjustment to $16,43 per litre for petrol while others had not yet adjusted.  

The slight reduction is on the back of a dip in international prices and duty. From August this year, Zera has been increasing fuel prices weekly in tandem with the floating exchange rate and international price movements, much to the chagrin of motorists.

This was after Government stopped subsidising the price of fuel, allowing sellers to buy foreign currency on the open market to import the commodity. But in spite of the constant price reviews, the commodity has remained scarce, with winding queues a common feature at most fuel stations. Government blames foreign currency shortages for the fuel shortages, which have persisted for years. — New Ziana/Business Reporter