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More anguish as fuel price goes up again…

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The price of both petrol and diesel has gone up again, making it the second time this has happened in as many weeks.

Last week, energy watchdog the Zimbabwe Energy Regulatory Authority (Zera) hiked the pump price by up to 47%.

This followed the statement by the Reserve Bank of Zimbabwe to the effect that all fuel subsidies had been set aside and traders would have to make procurements via the interbank exchange rate facility.

Zera had pegged their price increase as valid from 21 to 26 May.

With the interbank now floating, and the window period of five days set by Zera having lapsed, it seems fuel traders are following the exchange rate movement, which at the moment is highly fluid.

More to follow…


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