Price of diesel, petrol goes up as fuel remains in short supply

The price of fuel and diesel went up this week as the Zimbabwe Energy Regulatory Authority (ZERA) announced the new recommended prices.

The increase in the price of fuel comes after the Minister of Finance and Economic Development, Mthuli Ncube imposed excise duty on fuel products in his 2019 budget presented on November 22.

The price hike comes at a time when there is an acute shortage of fuel in the country due to the scarcity of foreign currency to import the precious liquid. In a statement, ZERA had this to say

The Zimbabwe Energy Regulatory Authority advises that in terms of the Statutory Instrument 20 and 100 of 2015, the applicable FOB prices starting on December 1, 2018 are summarised as FOB diesel $0,6500 and blend $0,5450, while maximum pump price for diesel is $1,34 and blend $1,38.

Source: Pindula