More
    HomeBusinessFuel prices up - Zera

    Fuel prices up – Zera

    Published on

    spot_img

    Harare, (New Ziana) – Fuel prices went up marginally on Sunday, reversing last week’s rare decline which motorists had cheered.

    The Zimbabwe Energy Regulatory Authority (Zera)said the price of petrol is now ZWL$9.95 per litre, up nine cents from last week, while that for diesel was ZWL$10.42, a jump of 17 cents.

    “The changes in the fuel prices are due to the FOB (Free on Board) price movements and the revised duty regime applicable from Monday, 9 September 2019,” Zera said.

    It added: “Operators may however, sell at prices below the cap depending on their trading advantages.”

    FOB refers to costs involved in shipping the product.

    In the week beginning August 26, 2019, the price for both petrol and diesel breached the ZWL$10 per litre mark before coming down the following week.

    While the fuel situation had largely improved in the past three weeks, last week saw a resurgence of long queues indicating depressed availability.

    Government has battled to normalise the fuel situation in the country for months on end, despite recent moves stopping subsidizes and to some extent deregulating imports by allowing other big firms to import the commodity.

    While previously pricing was cited as one factor that led to shortages, Zera has said the price of the commodity would be reviewed on a weekly basis to ensure it does not lag behind.

    Pricing mismatches, when compared with the region, were blamed for the shortages as the country’s fuel was the cheapest, driving arbitrage opportunities, including diversion to the black market and illegal export to neighbouring countries.
    New Ziana

    Latest articles

    Support Coventry, Bach appeals to world sports journalists

    From Goodwill Zunidza in RABAT, Morocco Outgoing International Olympic Committee (IOC) president Thomas Bach has...

    202 cadets commissioned at ZMA

    By Norman Dururu Gweru, (New Ziana)– The Commander-In-Chief of the Zimbabwe Defence Forces President Emmerson...

    Chiefs call for traditional courts to combat deforestation

    Bulawayo, (New Ziana)-The country`s traditional leadership has called for urgent action to curb deforestation,...

    ZMC tells community media to embrace AI to survive

    Harare, Zimbabwe, (New Ziana) – Community media in Zimbabwe must adopt Artificial Intelligence (AI)...

    More like this

    Support Coventry, Bach appeals to world sports journalists

    From Goodwill Zunidza in RABAT, Morocco Outgoing International Olympic Committee (IOC) president Thomas Bach has...

    202 cadets commissioned at ZMA

    By Norman Dururu Gweru, (New Ziana)– The Commander-In-Chief of the Zimbabwe Defence Forces President Emmerson...

    Chiefs call for traditional courts to combat deforestation

    Bulawayo, (New Ziana)-The country`s traditional leadership has called for urgent action to curb deforestation,...