A local economist, Prosper Chitambara, has warned the government against continued fuel price increases arguing that this will hamper current efforts to stabilise the economy.
He made the remarks shortly after the Zimbabwe Energy Regulatory Authority (ZERA) increased the prices of petrol and diesel this week. Said Chitambara:
While it is a fact that fuel prices have been significantly increasing on a global scale as the world swiftly emerges from COVID-19 lockdowns, the sad part is that Zimbabwe fuel price increases will be a double-edged sword for locals who have endured prices already higher than those of other global players.
The government must urgently see sense in reduced fuel prices as this will go a long way to boost productivity and ultimately increase other sources of revenue for the government.
On Wednesday, ZERA set the maximum pump price of diesel at ZWL$115.15 or US$1.34 per litre and petrol at ZWL$118.42 or US$1.38 per litre.
This is a slight increase from the fuel prices of August that were pegged at ZWL$114.29 or US$1.33 per litre of diesel and ZWL$117.07 or US$1.37 per litre of petrol.
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Zimbabwe – always goes in the wrong direction.