Zim increases petrol prices to US$1,76 per litre

Business Reporter

THE Zimbabwe Energy Regulatory Authority (ZERA) has increased petrol prices to US$1,76 per litre with immediate effect.

Petrol prices rose from US$1,64 indicating a 5,48% while increasing the price of diesel from US$1,71 to US$1,76 signifying a 2,92% following an increase effected last month.

“The public and operators are advised that the blending ratio is now at E15. Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices as provided for by the fuel pricing regulations.

“Stakeholders are advised that the petroleum price released by ZERA can be verified on the official ZERA website, Facebook or Twitter handle,” said ZERA in a statement.

The developments are likely to trigger another wave of basic commodities price increases in the process piling more pressure on efforts to curb inflation which has remained a thorn in the country’s economic recovery efforts.  

The recent increases in fuel prices have been partly triggered by the Russia/Ukraine war disturbances which have negatively impacted supply chains.  

However, ranks Zimbabwe among the countries with the highest petroleum prices regionally.

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