Harare (New Ziana) – The Zimbabwe Energy Regulatory Authority (Zera) on Sunday increased the price of petrol from $18.77 to $21.77 per litre while that for diesel went up to $21.52 from $18.66 per litre.
In a statement, Zera said the price changes were with immediate effect, and urged retailers with trading advantages such as close proximity to supply sources, to use these in their pricing to lighten the cost burden on motorists.
The regular price reviews are meant to ensure local prices do not lag behind those in neighbouring countries, which in the past led to smuggling.
After removing subsidies on fuel last year, the government said constant price reviews would improve availability of the commodity, but the situation has largely remained unchanged.
But the black market for the commodity is thriving and well stocked, entrenching suspicions of collusion and corruption in the sector, prompting the central bank to start publishing weekly statistics of fuel funding and beneficiaries in order to force accountability and transparency.
The central bank said it had arranged financing worth US$120 million for fuel imports for last month alone.
New Ziana
