ZERA Explains Recent Fuel Price Hike

The Zimbabwe Energy Regulatory Authority has said that the recent increase in fuel prices was motivated by surging prices on the international market.

Appearing before the parliamentary portfolio committee on energy and power development in Harare, ZERA Acting Chief Executive Officer, Mr Eddinton Mazambani, added that the delivery of fuel has been affected by the failure by oil companies to procure fuel through the National Oil Infrastructure Company (NOIC).

Mazambani also noted that there is a standoff between NOIC and the Zimbabwe Revenue Authority over new taxes articulated in the mid-term fiscal policy review statement.

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