Fuel prices marginally up

The Zimbabwe Energy Regulatory Authority (Zera) said on Sunday fuel prices will effective Monday increase by 21 cents and 34 cents respectively for petrol and diesel.

Zera said the price of petrol is now $11,76 per litre, while diesel was $12,42 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, 30 September 2019,” Zera said.

While the regulator encourages fuel companies to sell at below the set prices depending on their trading advantages, the operators hardly do that.

Instead, some actually charge above the set thresholds.

Following the latest round of increases,
dealer margins have been set at 0,7692 cents
per litre for petrol and 0,8123 cents for
diesel.

Fuel price reviews are, from last month, being announced on a weekly basis, a move that consumers have questioned, arguing they not only kept the nation in limbo but were also inflationary.

The commodity has largely remained scarce, despite the weekly revision of prices, which was hoped would improve product availability. — New Ziana.

Source :

The Herald

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