Service Stations Hike Price Of Fuel Sold In Foreign Currency

Some fuel service stations in Bulawayo selling the product in foreign currency have increased the prices for both diesel and petrol.

The fuel retailers claimed that the move was in response to the Zimbabwe Revenue Authority’s (ZIMRA) demand for duty to be paid in foreign currency.

ZIMRA said companies that imported fuel in forex since August 2019 should pay taxes in hard currency in retrospect, with duty imports for petrol being charged at US$0,45 cents per litre for unleaded petrol and US$0,40 cents per litre for diesel.

According to a report by the Chronicle, yesterday (Wednesday), the price of petrol and diesel had been hiked from between US$1,18 and US$1,36 per litre to US$1,51 for petrol and $1,43 for diesel.

A fuel attendant who spoke to the publication blamed the price increase to the introduction of duty payments in hard currency. He said:

This forex duty is now dipping into the pocket of profits so the price has to go up to avoid operating at a loss. The only problem is that we are paid in local currency yet we serve people in forex all day.

More: Chronicle

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