Monday, 5 April 2021

FUEL PRICES HIKED IN ZIM

THE Zimbabwe Energy Regulatory Authority (Zera) has increased prices for diesel and blend with effect from today.

The review follows adjustments made in February when Zera cited a general rise in fuel prices on the international market in January this year.

According to the statement from the regulatory board, the new prices of Diesel 50 are $111,77 from $110,41 per litre while Blend (E10) is $112,96 from $109,17. In US dollars, the price of diesel 50 remains the same US$1,32 while petrol is now US$1,34 from US$1,30.

“Fuel operators may however, sell at prices below the cap depending on their trading advantages,” read the statement from Zera.

In January 2021, the fuel prices were $100,91 or US$1,23 per litre of D50 while blend (E10) was pegged at $99,35 and US$1,21. In February the prices were $105,58 or US$1,27 per litre of Diesel 50 and $104,82 or US$1,26 per litre of Blend (E10).

Zera urged stakeholders to verify petroleum fuel prices on its official website, Facebook and Twitter handle @zeraenergy.

Since January this year, there have been increases in the Free on Board (FOB) prices for petrol and diesel and this has a knock-on effect on the pump price of fuel. The FOB refers to the costs of shipping the product and as a net importer of fuel, any rise in the FOB results in price increases for the product. Herald

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