With just under a week after The Zimbabwe Energy Regulatory Authority (ZERA) announced a fuel price decrease effected on Monday, the regulator has announced an immediate increase in the price of fuels.

Diesel which had gone down to ZWL17.28 has now gone up by ZWL$1.38 to ZWL$18.66 per litre. However, this price is still lower than the ZWL$19.55 per litre which was obtaining before last week’s review.

Blended Petrol has gone up to ZWL$18.70 per litre. This is ZWL$0.30 (30 cents) up from the previous ZWL$18.40 per litre.

The new prices of fuel translate to US$1.03 ( per litre of diesel and US$1.04 using the government’s official interbank forex rate.

Below is the full statement from ZERA

PRESS STATEMENT

Fuel price review

In accordance with the provisions of SI 270 of 2019, the Zimbabwe Energy Regulatory Authority (ZERA) has reviewed the fuel prices to ZWL $ 18.66 for diesel and ZWL $ 18.70 for blend with effect from 5 March 2020.

The SI 270/19 requires that fuel prices be determined using the previous month’s international market prices and announcement done with effect from 5th of every month.

This review is in line with the Petroleum Act and SI 270 of 2019.