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Fuel Prices Go Up

The price of petrol and Diesel-50 has gone up by two cents to $1,41 per litre on the back of a rise in “free on board” (FOB) prices. This is likely to trigger another round of price increases of basic commodities.

Motor Industry Association of Zimbabwe president, Simplisio Shamba attributed the increase in prices to the FOB price. Said Shamba:

On January 1, diesel (Diesel-50) was $0,5799 and petrol $0,5453, on January 8, diesel (Diesel-50) was $0,5865 and petrol $0,5520 and as from the January 15, diesel was $0,5949 and petrol $0,5614. So those are the issues that determine the price of fuel, which is just slotted into a costing module and then the price comes out. My comment would be it is a work in progress. We met the minister (Energy and Power Development minister Simon Khaya Moyo) last week, where we discussed the issue and he assured that something is being done.

More: NewsDay

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