Current Fuel Prices Are Too Low - ZERA
The Zimbabwe Energy Regulatory Authority (ZERA) says fuel prices were supposed to increase again this week due to an increase in the price of fuel on the global market.
In a statement this Saturday, ZERA said another fuel price hike was put on hold following consultations with the government and industry.
ZERA said it was agreed to keep fuel prices at current levels while they continue to monitor market developments. The statement read:
The Zimbabwe Energy Regulatory Authority (ZERA) will continue to monitor the fuel prices in the market and provide regular updates. The fuel prices continued to increase during the past week.
Pump prices were supposed to increase but after consultations with the government and industry, it was agreed to maintain the current prices while monitoring market developments.
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The public and operators are advised that the blending ratio remains at EO. Operators may sell 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.
This month ZERA increased fuel prices twice within one week, citing the war in Eastern Europe.
Diesel now costs US$1.68 and ZWL$218.01 per litre while petrol costs US$1.67 and ZWL$216.78 per litre following the latest increase.
