Fuel Prices Likely To Go Up Again - OPINION
Analysts have projected that fuel prices will soon be reviewed up again following a proposal by the Finance Minister to increase fuel excise duty.
Finance and Economic Development Minister, Professor Mthuli Ncube, in his 2019 Mid-Year Budget Review Statement and Supplementary Budget on Thursday, proposed a fuel excise duty increase from 19% (petrol) and 16% (diesel) to 45% and 40%, respectively.
Analysts have projected an increase in fuel charges to at least Z$9 per litre.
This comes after the Zimbabwe Energy Regulatory Authority (ZERA) hiked fuel prices to $7.22 and $7.55 for diesel and petrol respectively.
Fuel prices tend to command a chain of reactions. Retailers and public transport operators always raise their prices whenever fuel prices are raised.
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Some other business sectors including the telecommunications sector who have now resorted to the use of generators in the wake of a huge power deficit are also expected to be raising their charges.
