Zera increases local currency fuel price by 12%
The Chronicle
5/11/2021
Oliver Kazunga, Senior Business Reporter
THE Zimbabwe Energy Regulatory Authority (Zera) has increased the pump price of diesel and petrol in local currency by margins between 11,7 percent and 12,1 percent with effect from today.
According to a public notice issued by the energy regulator yesterday, the pump price of diesel and petrol in foreign currency remains unchanged at US$1,38 and US$1,40 per litre respectively.
Under the new pricing structure, the maximum pump price of diesel has been set at $136,44 from $122,13 a litre while petrol is now selling at $138,70 from $123,71 a litre.
The latest fuel price review follows adjustments made in October as Zera cites general rise in fuel prices on the international market.
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.
Meanwhile, the energy regulator said operators may sell at prices below the cap depending on their trading advantages. -@KazungaOliver