Latest News Editor's Choice

News / National

Zera dismisses social media fuel hike notice

by Staff reporter
11 Oct 2019 at 06:35hrs | Views
THE Zimbabwe Energy Regulatory Authority (Zera) has dismissed as a hoax, a notice circulating on social media to the effect that the maximum pump price for diesel has gone up from $15,64 to $18,25 and petrol to $17,86 from $14,97.

Posting on its twitter handle, Zera urged members of the public to ignore fake social media messages meant to cause alarm and despondency.

The authority dismissed the news on grounds that it has formal channels that it uses to communicate important information in the energy sector instead of falsehoods peddled on social media platforms.

"Zera wishes to advise consumers that there is a fake fuel price list circulating on social media purporting to be effective on October 14 and had $18,25 and $17,86 for diesel and blend respectively as new prices," read the statement.

"The official fuel price changes are only shared on official Zera social media handles twitter, Facebook and Zera web."

The fake fuel price had created panic among members of the public who were claiming that increase in fuel prices has a knock-on effect on prices of other goods.

Zera introduced new fuel prices last Saturday which saw petrol selling for $14,97 up from $11,55 while the pump price for diesel jumped from 11,08 to $15,64.

In effecting the fuel price increase, Zera attributed the increase to changes on the international market.

"The changes in the fuel prices are due to FOB (Free on Board) price movement and revised duty regime (SI161 OF 2019). Operators may however, sell at prices below the cap depending on their trading advantages," read the statement.

In Bulawayo on Sunday diesel was selling for $16,01 per litre at most fuel stations while blend was being sold between $15,31 and $15,41 per litre following the fuel price hike.

FOB basically refers to costs involved in shipping the product in line with changes on the international market.

Source - chronicle