The Zimbabwe Energy Regulatory Authority (ZERA) has announced new fuel prices effective Friday, 5 November 2021.
According to a notice issued by the energy regulator this Thursday, the maximum pump price of diesel has been set at ZWL$136.44 or US$1.38 per litre while that of petrol has been capped at ZWL$138.70 or US$1.40 per litre.
This is a significant increase from the fuel prices in October in Zimbabwe dollars, albeit the product is hardly being sold in local currency.
In October ZERA set the cap for the price of diesel at ZWL$122.13 per litre and petrol at ZWL$123.71.
In USD terms, the prices have not changed as they were capped at US$1.38 and US$1.40 per litre of diesel and petrol respectively in October.
Meanwhile, ZERA said operators may sell at prices below the cap depending on their trading advantages.
Last month ZERA said it was planning to introduce a programme for the supply of local currency (ZWL) fuel into the market.