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Fuel Price Up Again

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Despite Government announcing that they have resumed ethanol blending, and fuel prices would fall by US$ 0.07, Zimbabwe Energy Regulatory Authority (ZERA) has done the exact opposite hiking the price of Petrol and Diesel.

Petrol and Diesel prices hiked from US$1.64 to US$1.68 and from US$1.71 to US$ 1. 74 respectively.

RTGS prices are now at Diesel 50(ZWL/litre) $499.56, Blend-E15 (ZWL/litre) $481.02.
In a statement ZERA said, “Please be advised that there has been a review of price for diesel and blend with effect from 20 May 2022.

The public and operators are advised that the blending ratio is now at E15. Operators may sell the petroleum products below the prescribed prices in a prominent place as provided for by the fuel regulations.

ZERA reviewed fuel price, after Cabinet last week announced that the blending will go up to E20 by the end of May 2022, which will lead to higher reduction in the price of petrol by US$0.07 per litre and reverting to monthly pricing once there is stability in the price of fuel on the international market.

Minister of Energy and Power Development Soda Zhemu further assured motorists that the move by Cabinet to resume ethanol blending was going to cushion motorists from sharp increase in fuel prices caused by the instability caused by Russia’s invasion of Ukraine, which has resulted in uncertain fuel supplies.

The move by ZERA to review fuel price is going to worsen the price hikes of basic commodities in the Country.

@audience mutema

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