Chronicle Editor
Business Reporter
THE Zimbabwe Energy Regulatory Authority (Zera) yesterday announced the latest slash in the price of petrol and diesel, buttressing the Government efforts to contain the price of the commodity from breaching the US$2 mark per litre.
Fuel is a major cost driver and its price has been going up sharply across the globe due to disruption of supply chains linked to the ongoing Russia-Ukraine war.
In June, the Government completely removed the levy on diesel as it sought to ease the burden on consumers and ensure stable supplies.
In a circular on Wednesday, the regulatory authority said the USD prices for petrol and diesel has dropped from $1.70 to $1.61 and $1.80 to $1.76 respectively.
In local currency, petrol will retail at $667,43 while the pump price for diesel is pegged at $727,69.
The previous fuel price review was announced on July 18 after an earlier review on July 11.
“Operators may sell 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,” said Zera.
Online Reporter