Online Reporter
Business Reporter
THE Zimbabwe Energy Regulatory Authority has announced an increase in diesel and petrol blend prices, attributing this to shifts in the international market.
With immediate effect, diesel will retail at US$1,77 per litre, while petrol blend (E5) will cost US$1,71 per litre.
In the local currency, the prices are set at ZiG45,55 and ZiG 44,01 per litre, respectively.
The new tariffs represent a sharp rise compared to the previous pricing structure announced in February. For the period ending March 4, diesel was capped at US$1,52 per litre and blend at US$1,56 per litre, with local currency equivalents of ZiG 38,84 and ZiG 40,04.
In a statement, ZERA revealed that the actual market-driven costs would have been even higher – US$1,90 for diesel and US$1,81 for blend – had the Government not intervened by reducing some of its charges to cushion consumers.
“The above prices are as a result of Government reducing some of its charges to cushion the consumers from astronomical increases that have happened from changes in the international market,” the authority said.
