admin
Faith Katete
Herald Reporter
Maximum petrol prices rose marginally yesterday by four US cents a litre to US$1,34, with maximum diesel prices remaining at US$1,32.
Diesel can be sold for no more than US$1,32 or $111,77 a litre, while the maximum retail price of petrol is now US$1,34 or $112,96.
The change in the auction rate over the last month since the Zimbabwe Energy Regulatory Authority (Zera) last set maximum retail prices has seen diesel rise in price in local currency from $110,41 to $111,77, while the increased US dollar price and the exchange rate shift have combined to push maximum petrol prices up from $109,17 to $112,96.
Zera stresses that retailers can sell fuel for less than the maximum price, just not more.
The present supply chains have seen some low-level price cutting, especially in the US dollar market where free funds must be used, where margins have been cut to try and push volumes.
Online Reporter