ZERA sets ZiG fuel prices under unclear circumstances

By Staff Reporter

THE Zimbabwe Energy Regulatory Authority (ZERA) has gazetted fuel prices in local currency although the situation remains unclear in as far as the ZiG is now acceptable for the commodity’s trade.

According to the Zimbabwe Energy Regulatory Authority (ZERA), a litre of diesel will fetch ZiG22.24 while petrol will be charged at ZiG21.15 per litre.

“The prices are for May 2024 based on M-1 and they will be effective up to 4 June 2024,” said ZERA in a statement.

Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations.”

RBZ Governor John Mushayavanhu has since maintained that negotiations are still underway for the use of the local currency.

Introduced at a rate of US$1: ZiG13, the currency stands a similar test to that of its predecessor, the RTGS, which was heavily devalued by market forces and illegal trade on the street.

Due to its unavailability, the ZiG is yet to be accepted by most informal shops and vendors.

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