Fuel prices up 10 percent

Harare,(New Ziana) – Fuel prices are up by 10 percent with immediate effect, with petrol now $11.55 per litre from $10.41 last week while diesel goes up to $12.08 per litre from $10.89, the industry regulator announced late Sunday.

“The changes in the fuel prices are due to the FOB (Free on Board) price movements and the revised duty regime applicable from Monday, 23 September 2019,” the Zimbabwe Energy Regulatory Authority (Zera) said.

While the regulator encourages fuel companies to sell at below the set prices depending on their trading advantages, the operators rarely do that.

Instead, some actually charge above the set thresholds.

Consumers have questioned the logic behind the weekly fuel price reviews which they have argued keep the nation in suspense.

Despite the weekly revision of prices, which was expected would improve product availability, fuel remains scarce on the market.

Long queues are still a major feature, with some stations going for more than a day without receiving supplies.

Authorities have blamed the shortages on lack of foreign currency to import the commodity against other competing needs.
New Ziana