ZERA Hikes Fuel Prices for October

ZERA Hikes Fuel Prices for October (News Central TV)

Effective from Tuesday, 5 October 2021, the maximum pump price of diesel will become ZWL$122.13 or US$1.38 per litre while that of petrol has been capped at ZWL$123.71 or US$1.40 per litre.

The Zimbabwe Energy Regulatory Authority (ZERA) said this in a statement showing significant increase from the fuel prices for September.

 Last month ZERA set the cap for the price of diesel at ZWL$115.15 or US$1.34 per litre and petrol at ZWL$118.42 or US$1.38 per litre.

 In its latest fuel price adjustment, ZERA said operators may sell at prices below the cap depending on their trading advantages.

Compared to regional prices from Mozambique, the Democratic Republic of Congo, Lesotho and Namibia selling petrol for between US$0.95 cents and US$1.05, Zimbabwe is among the countries with the highest fuel prices the world over.  

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Market watchers have since warned that the excessive taxes being placed on fuel, which they say constitute almost 50 % of the total fuel prices in Zimbabwe, has the potential to derail the gains of stabilising the local currency and other economic gains.

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