RESIDENTS FEAR FOR THE WORST AS ZERA HIKES FUEL PRICES
Written by yafmnews on May 23, 2019
THE Zimbabwe Energy Regulatory Authority (ZERA) has gazetted new maximum retail prices of fuel reflecting average increases of 46 percent for blend petrol and 49 percent for diesel, with the new prices effective from today.
In a statement ZERA said the new prices were premised on the interbank market rate and will see a liter of blend petrol (E10) retailing at $4.97 while diesel will sell at $4.89 per liter.
The statement went on to indicate that the new prices are in line with measures taken by the Reserve Bank of Zimbabwe (RBZ) on fuel procurement, now based on the ruling exchange rate on interbank market where oil marketers now obtain forex to import fuel.
Until yesterday oil marketing companies were receiving foreign currency allocations to import fuel from the RBZ at a special rate of 1 to 1 between the US dollar and RTGS dollar.
MEANWHILE>>> Residents in the Great Dyke say they fear for the worst following ZERA’s upward review of fuel prices.
Residents that spoke to Great Dyke News’ Tatenda Gwezuva called on government to take measures to protect commuters and consumers from price hikes that normally follow increases in fuel prices.
Transport operators that spoke to the same reporter said they have no choice but to increase their prices in line with the fuel price ZERA has gazetted.