Govt Slashes Price of Diesel With Effect From Monday

The government through the Zimbabwe Energy Regulatory Authority (Zera) has slashed the price of diesel from US$1.30 to $1.22 with effect from tomorrow (Monday). This comes after the government banned Diesel 500 saying it is damaging vehicle engines due to its high Sulphur content.  In a notice published on Friday, Zera said,

The retail price for the week starting March 5, 2018, should not exceed US$1, 22 for all diesel.

The reduction of D50 prices in the market is a result of the use of cheaper pipeline transportation of D50 into the country as opposed to road and rail. The convergence in prices of D50 and D500 that is being witnessed shows compliance with the Government directive to ban retail of D500 by 1 May 2018.

However, subsequent prices will change in line with movements in international crude oil prices and the application of the fuel pricing regulations by Zera.

More: Sunday Mail

 

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