ZERA reduces fuel prices
Mako Jerera
Government has reduced the maximum selling price of diesel and petrol for the week 21 to 27 March 2022 in line with worldwide market trends.
Diesel now costs US$1.60 (ZWL$213.90) per litre while the price of petrol has been reduced to US$1.59 (ZWL$213.49) per litre.
Before the price adjustment, price of diesel was US$1.68 (ZWL$218.01) per litre while the price of petrol was US$1.67 (ZWL$216.78) per litre.
In a statement, Zimbabwe Energy Regulatory Authority (ZERA) said, prices have been set in accordance with oil price patterns on the international market, which the Authority is continuously monitoring.
“The public and operators are advised that the blending ratio remains at E0,” said the statement.
Operators are being advised to sell the petroleum products at or 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.
ZERA will continue with its mandate and efforts to protect consumers and minimise the increases in local fuel prices in the face of potential rising oil prices and increased worldwide demand for fuel, as Covid-19 restrictions ease and economies recover.
The already volatile oil market has been exacerbated by the conflict between Russia and Ukraine which has disrupted the critical petroleum supply chain.
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