The Zimbabwe Energy Regulatory Authority (ZERA) has slashed prices of fuel in response to the global fall in oil prices and development that is likely to ease the day to day costs for most citizens in the country.
According to the new ZERA directive, diesel will be sold at a maximum pump price of $20.84 while petrol will be sold at a maximum price of $21.
“Operators may, however, sell at prices below the cap depending on their trading advantages. Stakeholders are advised that the petroleum price releases can be verified on the official ZERA website, Facebook and Twitter handle,” said the fuel regulator.
Prior to the reductions, a litre of diesel was being sold for $21.52 with a litre of petrol going for $21.77.
Globally, oil prices have gone down with the United States benchmark price for crude dropping below zero for the first time.
Fuel queues in Zimbabwe have been relatively short since the start of the lockdown as most industries have been closed and the movement of motorists has been severely restricted.