The Zimbabwe Regulatory Authority ZERA has put to rest speculations that fuel prices will be increased.

This follows the shock announcement by RBZ governor John Mangudya that Fuel Companies will now buy foreign currency at the Interbank rate instead of the subsidized 1:1 they were receiving previously.

Zimbabwe has been plagued by foreign currency shortages with the RBZ coming under fire for prioritizing fuel cartels at the expense of other critical sectors of the economy.

Below is a Press statement released by ZERA.