The Zimbabwe Energy Regulatory Authority (Zera) yesterday reduced the price of petrol and diesel by 77 cents and 68 cents respectively owing to a fall in Free on Board (FOB) prices and the revised duty regime.
Zera said the new prices would see a litre of blend petrol (E5) retailing at $21 while diesel would sell at $20,84 per litre. Prior to the review, the price of petrol was pegged at $21,77 while diesel was at $21, 52 per litre.
“Operators may, however, sell at prices below the cap depending on their trading advantages,” Zera said in a statement.
It advised consumers to verify prices on its social media accounts.
Zera acting chief executive Mr Eddington Mazambani confirmed the decrease attributing it to the fall in FOB prices.
He said depending on the movement t on the international market, prices could further fall.