Fuel prices continue sliding back towards normalcy

by | Jul 28, 2022 | Business, Local News | 0 comments

Fuel prices continue sliding back towards normalcy

Mako Jerera

The Zimbabwe Energy Regulatory Authority (Zera) has announced a latest drop in fuel prices and blending ratio to E20 effective July 27.
Diesel now costs US$1.76 (ZWL$727.69) per litre while the price of petrol has been reduced to US$1.61 (ZWL$667.43) per litre.
“The public and operators are advised that the blending ratio is now at E15. Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations,” the energy authority said in a statement.
“Stakeholders are advised that the petroleum price releases by ZERA can be verified on the official ZERA website, Facebook or Twitter handle,” ZERA said in a statement.
The authority said the reduction is following price trends on the international market.
Zimbabwe has seen continued fuel price increases since the beginning of the year with the ripple effects often reflected in similar increases in prices of goods and services.
There is hope that the fuel price decreases will also see a reduction of prices in goods and services, some of which had become out of reach with producers blaming cost drivers like fuel.