Fuel prices increased … See new prices

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The Zimbabwe Energy Regulatory Authority (ZERA) has approved an increase in fuel prices following almost a month with no adjustment in the price of fuel. The new fuel prices are effective Wednesday, 05 August 2020.

Diesel has now gone up to ZWL $83.36 per litre, an increase of ZWL $11.74 from the previous price of ZWL $71.62 per litre. Blended Petrol has gone up to ZWL$93.15 per litre. This is an increase of ZWL $30.38 from the previous price of ZWL$62.77 per litre.

However, for those buying in foreign currency, the United States Dollar prices have not changed and remain unchanged at US$1.09 per litre of diesel and US$1.28 per litre of blended petrol.

New Fuel Prices In Zimbabwe Effective 05 August 2020
The price of fuel has now become more stable since the Reserve Bank of Zimbabwe (RBZ) introduced the weekly foreign currency action system in June. Although the price is subject to change, it is no longer changing on a weekly basis.

The increase in the price of fuel comes at a time when fuel queues have been resurfacing across the country due to shortages.

Speaking on the recent fuel prices, Deputy Minister of Energy, Magna Mudyiwa blamed the lack of foreign currency for the fuel shortages. Speaking to state media, Mudyiwa said,

The fuel shortages are not unique to Bulawayo only but are a nationwide phenomenon. This is due to forex shortages we are experiencing. The national cake is too small; a lot of sectors need forex, and while fuel is one if the prioritised sectors, of late Government has been diverting the larger chunk of resources towards the Covid-19 fight.

So resultantly, some sectors may suffer. To access fuel at Msasa, Government must have paid for that bonded fuel. So, the public must expect such challenges as the cake is so small and must be distributed among different sectors to keep the economy functional.

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