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Monday, January 30, 2023
HomeNewsZERA Reviews Fuel Price Upwards

ZERA Reviews Fuel Price Upwards

The Zimbabwe Energy Regulatory Authority (Zera) has reviewed upwards fuel prices for both diesel and petrol with operators urged to sell below the cap prices subject to their trading advantages.

Diesel will now sell at a maximum of ZWL$ 114.29 per litre from ZWL$ 110.54 while petrol now trades at ZWL$117.07 per litre from ZWL$ 112.55.

In foreign currency, diesel will sell at US$ 1.33 from US$ 1.30 and petrol at US$ 1.37 from US$ 1.33 previously.

The development comes at a time both annual and monthly inflation remain at unsustainable levels despite a marginal drop of 1.32 percentage points (month-on-month) in July to 2.56 percent.

Analysts have however warned that the rise in fuel prices is expected to have a spill-over effect to the entire economy.

 

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