Vusumuzi DubeCharity Chikara, Sunday News Reporter
THE Zimbabwe Energy Regulatory Authority (Zera) has increased prices for diesel and blend with effect from today (Tuesday).
According to a statement from the regulatory board, the new prices of Diesel 50 are $550.59 up from $264.77 per litre that was announced last month while Blend (E15) is $539.56 up from $254.40.
In United States (US) dollars, the Diesel 50 price rose to US$ 1.76 from US$1.71 while that of petrol (E15) rose to US$1.73 from US$1.63.
“Operators may sell the 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,” reads the statement.
Since January this year, there have been increases in the Free on Board (FOB) prices for petrol and diesel and this has a knock-on effect on the pump price of fuel. The FOB refers to the costs of shipping the product and as a net importer of fuel, any rise in the FOB results in price increases for the product.
Online Reporter