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Zera defers announcement of new fuel prices to later date

by Staff reporter
06 Sep 2021 at 19:22hrs | Views
THE Zimbabwe Energy Regulatory Authority (ZERA) has deferred to a later date the announcement of new fuel prices.

The parastatal is expected to announce new fuel prices by the fifth of every month in line with Statutory Instrument 270 and 2019.

In a statement on Monday morning, Zera said it was monitoring the developments in the international markets and will make pronouncements on new prices in due time.

"However, due to the developments that are taking place, Zera will issue a statement on the September 2021 fuel prices after the statutory set date. Zera is working vigorously to have the fuel prices for the month announced and are paying close attention to trends on the international oil markets while consulting local key stakeholders on the likely impact of the developments on the final pump prices," read the statement.

"Fuel operators are therefore urged to continue trading as per the August 2021 fuel prices while consultations are being finalised. The September 2021 fuel prices will be announced in due course."

The August regulated pump price for blend is $117 or US$1,37 while diesel is $114 or US$1,33.

Although fuel prices have been packed in both local and foreign currency, the commodity is hardly accessible in local currency.

Government has since said it was investigating fuel dealers who access foreign currency in the Reserve Bank of Zimbabwe auction system, but still sell petroleum using foreign currency only.

Source - chroncile