The price of fuel has gone up again. This maximum pump price of petrol is now $9.01 and that of diesel is now $9.06. The fuel price has effectively increased twice in the same week with the last increase having been announced on 30 July.
Zimbabwe Energy Regulatory Authority announced the new increase on Twitter.
Before this increase, the price of petrol was Petrol $7.55 and diesel was priced at $7.22. That last price was intro
Said the announcement:
Please be advised that the new fuel prices effective Saturday, 03 August 2019 are as follows:
Diesel (ZWL/Litre) Blend E20 (ZWL/Litre) FOB 0.6052 0.5888 Exchange Rate 7.5000 7.5000 Duty (ZIMRA Exchange Rate - 9.0938) 2.4883 2.7323 Oil Company Margin 0.4796 0.4767 Dealer Margin 0.5930 0.5895 Maximum Pump Price 9.06 9.01
The changes in the fuel prices are due to the FOB price movements and the revised duty regime (SI 161 of 2019).
Operators may, however, sell at prices below the cap depending on their trading advantages.