GOVERNMENT has announced a new set of fuel price increases for the umpteenth time this year and the first in August after three similar hikes in July.<\/p>\n
In a short statement, the Zimbabwe Energy Regulatory Authority (ZERA) on Monday announced the new fuel prices which take effect immediately.<\/p>\n
Petrol has been pegged at $9.09 up from $9.01 while diesel had the biggest jump from $9.06 to $9.27.<\/p>\n
According to ZERA, the increases \u201care due to the FOB price movements and the revised duty regime (Statutory Instrument 161 of 2019) applicable from Monday 12 August.\u201d<\/p>\n
\u201cOperators may however, sell at prices below the cap depending on their trading advantages,\u201d ZERA said.<\/p>\n
Finance Minister Mthuli Ncube is on record the ideal price of fuel should be at par with US$1. However, the Treasury chief suggested government would drip feed the increases to reduce the possibility of social upheaval.<\/p>\n
Despite the increases, Zimbabwe continues to face fuel shortages and queues have remained a key feature despite the increases in prices,<\/p>\n
The demand of fuel is on the increase due to the continued power cuts across the country.<\/p>\n
Ncube also indicated that Zimbabwe would not allow the price to jump to regional averages in one swoop.<\/p>\n
In January a 150% fuel price jump announced by President Emmerson Mnangagwa triggered violent demonstrations that left 17 people dead and scores nursing gunshot wounds at the hands of the military.<\/p>\n","protected":false},"excerpt":{"rendered":"
GOVERNMENT has announced a new set of fuel price increases for the umpteenth time this year and the first in August after three similar hikes in July. In a short statement, the Zimbabwe Energy Regulatory Authority (ZERA) on Monday announced the new fuel prices which take effect immediately. Petrol has been pegged at $9.09 up […]<\/p>\n","protected":false},"author":84,"featured_media":1059,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[225,130,150,284,747],"class_list":{"0":"post-12286","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-finance-minister","10":"tag-fuel","11":"tag-ncube","12":"tag-prices","13":"tag-zera"},"yoast_head":"\n