eBusiness Weekly
HARARE – Fuel prices marginally go up by an average 0.145 percent effective Monday, 18 November, pushed by a slight depreciation of the local currency, the energy regulator said on Sunday.
According to the Zimbabwe Energy Regulatory Authority (Zera) the price of petrol will go up by 30 cents to $17.07 while that of diesel increase by 21 cents to $17.74.
“Operators may however sell at below the cap depending on their trading advantages,” Zera said.
From August this year, Zera has been reviewing 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
