Well that didn’t last long! Diesel buyers were stunned last week by the reduction of diesel by nearly $2. However local fuel prices returned to their upward trend this evening with ZERA issuing a statement. Petrol has increased by 30c to a new maximum price of $18.70. Diesel has shot up by $1.38 to new maximum of $18.66.
The ZERA Press statement below:
In accordance with the provisions of SI270 of 2019, the Zimbabwe Energy Regulatory Authority(ZERA) has reviewed the fuel prices to ZWL$18.66 for diesel and ZWL$18.70 for blend with effect from 5 March 2020.
This Statutory Instrument requires that fuel prices be determined using the previous month’s International market prices and announcement done with effect from the 5th of every month.
This review is in line with the Petroleum Act and SI 270 of 2019.ZERA Press Statement