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Fuel prices up by 8 cents

by Staff reporter
17 Mar 2019 at 18:08hrs | Views
Retailers have hiked petrol and diesel prices by up to 8 cents per litre, adding to the burden of consumers dealing with record prices and amid rising political pressure on the Emmerson Mnangagwa-led government.

The marginal increase comes just two months after government more than doubled the cost of petrol to $3,31 a litre and diesel to $3,11 a litre, sparking violent protests.

A survey by the Daily News on Sunday in Harare showed the price of petrol was hiked to $3,37 a litre, while diesel was raised to $3,19 a litre

Zimbabwe Energy Regulatory Authority (Zera) communications officer Gladman Njanji said the increase has been necessitated by a recent revision in excise duty. At the beginning of the month, Zimbabwe Revenue Authority (Zimra) hiked customs and excise duty by threefold after government gazetted Statutory Instrument 32 of 2019, which legalised RTGS dollars as legal tender.

"These figures take into account the revised excise duty and represent maximum Freight on Board (FOB) prices.

"Operators may however, sell at the prices below the cap depending on their trading advantages," Njanji said.

With effect from March 11, Zera recommended a fuel maximum pump price of $3,19 and $3,37 per litre for diesel and petrol respectively.

The authority also recommended that with effect from Monday, fuel retailers can charge up to $3.20 for diesel and $3.38 for fuel.

The increase comes at a time when the fuel crisis still persists, with fuel queues having resurfaced in most parts of the country.

Source - dailynews

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