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:
HOT DEALS:
itel A70 - (128GB, 3GB RAM) $89,
itel A70 - (256GB, 4GB RAM) $99
itel P40 (128GB, 4GB), (6000mAh) $99
itel P40 (64GB, 4G), (6000mAh) $93
LATEST:
itel S24 (128GB) $124 (108MP camera)
itel S24 (256GB) $159 (108MP camera)
Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika.
WhatsApp: 0783 450 793
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.