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*Diesel Price Now Higher Than Petrol*

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For the first time in a long time in Zimbabwe, the price of diesel has overtaken that of petrol. This happened with the latest price increases announced today by the Zimbabwe Energy Regulatory Authority (ZERA)

Diesel is now ZWL $9.06 per litre, where petrol is ZWL $9.01.

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Diesel (ZWL/Litre)Blend E20 (ZWL/Litre)

New PriceOld PriceNew PriceOld Price

FOB0.60520.60020.58880.5856

Exchange Rate7.50007.50007.50007.5000

Duty (ZIMRA Exchange Rate - 9.0938)2.4883n/a2.7323n/a

Oil Company Margin0.47960.38200.47670.3996

Dealer Margin0.59300.47240.58950.4942

Maximum Pump Price9.067.229.017.55

On Thursday, Finance Minister Mthuli Ncube announced a fuel excise duty increase from 19% (petrol) and 16% (diesel) to 45% and 40%, respectively.

The new prices are in part a response to those changes too. Earlier in the month, Ncube also indicated that the government’s objective is for fuel to retail at around US $1 to match the general prices in neighbouring countries.

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