The Government says the recent rise in local fuel prices has been caused by the ongoing war in Ukraine.
The Zimbabwe Energy Regulatory Authority (ZERA) hiked the price of diesel and petrol twice this month, sparking outrage as local fuel prices were already much higher compared to those in regional countries.
Speaking on ZBC News and Current Affairs programme, Face the Nation on Tuesday, Energy and Power Development Minister, Soda Zhemu said:
As you are aware that as a country we depend on 100 per cent of our fuel needs on imports save for the ethanol component.
We are subjected to any fluctuations of oil prices on the international market and what we witnessed last week is that a barrel of oil shot to over 130 us dollars per barrel and obviously we had to adjust our local prices.
Zhemu conceded that Zimbabwe’s fuel prices are the highest in the SADC region but said there are other costs that are factored in. He said:
Of course, our prices are sort of way higher than what obtains in other SADC countries because we levy other costs such as the Zinara debt, road levy and the carbon levy, which leads to a seemingly high price.