Business / Economy
Zimbabwe dismiss fuel price increase reports
06 Aug 2013 at 04:38hrs | Views
THE Zimbabwe Energy Regulatory Authority has dispelled yesterday's reports in some sections of the media that fuel prices had gone up with petrol reportedly selling at US$1,70 per litre, while diesel was said to be selling at US$1,50 per litre. The reports attributed the alleged price increase to results of last week's harmonised elections that were resoundingly won by Zanu-PF.
ZERA just like South Africa also dismissed claims that it had reintroduced visa fees in the wake of President Mugabe's crushing victory in the harmonised elections to stem an anticipated influx of economic refugees.
Some pro-MDC-T websites and the party's trolls on social media claimed South Africa was closing its borders to stem an influx of Zimbabweans fleeing hardships that MDC-T claimed would engulf the country in the wake of its crushing defeat.
Analysts said the fuel price increase reports were designed to influence a spike in prices to fulfil MDC-T's hardships mantra.
ZERA chief executive Engineer Gloria Magombo dismissed the reports as mischievous and bent on instigating unnecessary and unjustified fuel price increases not related to any cost drivers.
"Zera views such reports as trying to instigate unnecessary fuel price hikes not at all related to any changes in the cost drivers of fuel and are not in any way linked to the outcome of the just ended harmonised elections," she said.
Eng Magombo added that a snap survey carried out by the regulatory authority's monitoring and compliance team had revealed that prices of fuel being charged by fuel stations had remained unchanged.
"Our survey has actually revealed that the prices of fuel at service stations have not changed and therefore ZERA does not expect any upward movement in the prices of fuels especially taking into cognisance the fact that the International crude oil prices have generally remained stable.
"In Harare yesterday, prices of petrol ranged from US$1, 48 to US$1, 51 while those of diesel ranged from US$1, 33 to US$1, 35," said Eng Magombo.
In Bulawayo prices yesterday were also unchanged with the price of fuel ranging from US$1, 52 to US$1, 55 for petrol while diesel ranged from US$1, 35 to US$1, 40.
Eng Magombo warned unscrupulous fuel dealers who might want to create confusion and take advantage of customers by charging exorbitant prices saying that her organisation was closely monitoring events on the market and that those found wanting would be penalised.
"One of the key mandates of ZERA is to ensure that petroleum prices are fair to both consumers and the licence operators and that they comply with Statutory Instrument 83 of 2009.
"ZERA will thus continue to monitor the fuel prices and any fuel licensees who charge beyond the price allowable in terms of SI 83 of 2009: Control of Goods (Petroleum Prices) will have their licences cancelled in terms of the Petroleum Act," she said.
The fuel increase rumours started spreading soon after the announcement of Zanu-PF's resounding victory as prophets of doom started circulating harmful and speculative rumours on the economic performance of Zimbabwe.
ZERA just like South Africa also dismissed claims that it had reintroduced visa fees in the wake of President Mugabe's crushing victory in the harmonised elections to stem an anticipated influx of economic refugees.
Some pro-MDC-T websites and the party's trolls on social media claimed South Africa was closing its borders to stem an influx of Zimbabweans fleeing hardships that MDC-T claimed would engulf the country in the wake of its crushing defeat.
Analysts said the fuel price increase reports were designed to influence a spike in prices to fulfil MDC-T's hardships mantra.
ZERA chief executive Engineer Gloria Magombo dismissed the reports as mischievous and bent on instigating unnecessary and unjustified fuel price increases not related to any cost drivers.
"Zera views such reports as trying to instigate unnecessary fuel price hikes not at all related to any changes in the cost drivers of fuel and are not in any way linked to the outcome of the just ended harmonised elections," she said.
Eng Magombo added that a snap survey carried out by the regulatory authority's monitoring and compliance team had revealed that prices of fuel being charged by fuel stations had remained unchanged.
"In Harare yesterday, prices of petrol ranged from US$1, 48 to US$1, 51 while those of diesel ranged from US$1, 33 to US$1, 35," said Eng Magombo.
In Bulawayo prices yesterday were also unchanged with the price of fuel ranging from US$1, 52 to US$1, 55 for petrol while diesel ranged from US$1, 35 to US$1, 40.
Eng Magombo warned unscrupulous fuel dealers who might want to create confusion and take advantage of customers by charging exorbitant prices saying that her organisation was closely monitoring events on the market and that those found wanting would be penalised.
"One of the key mandates of ZERA is to ensure that petroleum prices are fair to both consumers and the licence operators and that they comply with Statutory Instrument 83 of 2009.
"ZERA will thus continue to monitor the fuel prices and any fuel licensees who charge beyond the price allowable in terms of SI 83 of 2009: Control of Goods (Petroleum Prices) will have their licences cancelled in terms of the Petroleum Act," she said.
The fuel increase rumours started spreading soon after the announcement of Zanu-PF's resounding victory as prophets of doom started circulating harmful and speculative rumours on the economic performance of Zimbabwe.
Source - herald
