Govt Will Not Increase Fuel Prices Soon- ZERA

The Zimbabwe Energy Regulatory Authority of Zimbabwe (Zera) said the country has enough fuel stocks for the market and Government will not increase its prices in the near future.

This comes as rumours have been circulating that another fuel price hike is looming, triggering panic buying, especially in Harare. Zera acting chief executive officer Eddingtom Mazambani said the shortages that were experienced last week were a result of supply gaps that have been closed by the fuel supply inflows. Said Mazambani:

Government has put in place enough financial facilities to ensure that there will be enough fuel stocks to cater for current demand. There is no need for panic buying. The country has adequate stocks. Zera is constantly monitoring the supply and consumption pattern while financial side is being resolved by the Central Bank.

Last month, Government increased the diesel price to $3,11 from $1,30 per litre, while petrol was increased to $3,31 from $1,40.

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