Zimbabwe increase fuel prices

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THE energy regulator, the Zimbabwe Energy Regulatory Authority (ZERA), has announced new prices of both petrol and diesel, effective Friday, 5th June 2020.

The new pump price of diesel will be a maximum of ZW$24.93 per litre, while petrol will cost a maximum of ZW$28.96 per litre.

ZERA advises that fuel traders may sell below the advised cap prices depending on their trading advantages.

ZERA last announced the new petrol and diesel prices a month ago which applied effective 5 May 2020.

At that time, the global fuel prices had plummeted and ZERA priced petrol at ZW$21 per litre and diesel at ZW$20.84 per litre.

The price per barrel went negative in April as a result of reduction in demand due to the coronavirus pandemic which hit global major consumers of the product including the United States.

Zimbabwe continues to face fuel shortages owing to foreign currency inadequacy.

Long queues are seen at most service stations.

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