The Zimbabwe Energy Regulatory Authority (ZERA) has issued a statement warning Fuel Operators against hoarding fuel.
On Monday (yesterday), the Reserve Bank of Zimbabwe liberalised the exchange rate from a fixed 1:1 for companies involved in fuel procurement. As a result, fuel companies reportedly engaged ZERA in a bid to increase the price of diesel and petrol to almost $5.00.
The government, through ZERA, has turned down the request and ordered fuel companies to sell at the old prices. However, reports indicate that some fuel retailers are now selling the fuel at the “new” price.
Meanwhile, ZERA has threatened fuel companies found hoarding fuel, that they will face the full wrath of the law. Read the full text below:
NOTICE TO FUEL OPERATORS
The Petroleum Industry is advised that the prices of fuel have NOT changed and operators are expected to continue selling fuel into the market as is expected of them.
Any operator found hoarding fuel will face the full wrath of the law. The Zimbabwe Energy Regulatory Authority (ZERA) and the Zimbabwe Republic Police (ZRP) Officers have been deployed in all the towns and cities to ensure compliance.
E. T. Mazambani ACTING CHIEF EXECUTIVE OFFICER ZIMBABWE ENERGY REGULATORY AUTHORITY
ZIMBABWE ENERGY REGULATORY AUTHORITY
2 1 MAY 2019
P. 0. BOX CY 308, CAUSEWAY HARARE, ZJIMBABWE