ZERA announced the new fuel prices with effect from
yesterday.
According to a statement from the regulatory body, the new
price of Diesel 50 in local currency is $105,56 per litre from $100,91 while
that of petrol (E10) rose to $104,82 from $99,35. In US dollars, the new price
of diesel 50 is US$1,27 from US$1,21 while petrol is now pegged at US$1,26 from
$1,23. “Operators, however, sell at prices below the cap depending on their
trading advantages,” reads part of the statement from ZERA
Commenting on the latest price increases ZERA chief
executive officer, Mr Eddington Mazambani attributed the increases to changes
in the Free On Board prices for petrol and diesel in January. 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.
“The price increases are due to the increases in the FOB
prices for the commodities in January,” he said. “On average the FOB price of
diesel rose by seven percent in January as compared to December while that of
petrol rose by 11 percent.
“The only component of the fuel price that has changed is
the FOB which is determined internationally which Zimbabwe can do nothing
about.” The fuel prices are subject to review once every month.
Fuel has become more widely available now after the
government pegged prices to floating exchange rates, and allowed trading in
foreign currency. Herald
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