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Fuel prices marginally go down
2 hrs ago |
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The Zimbabwe Energy Regulatory Authority (Zera) has reduced the prices of diesel and petrol with immediate effect, citing improved stability in global fuel markets.
In a statement issued on Wednesday, Zera announced that the price of diesel had been reduced by 12 US cents per litre, from US$1.99 to US$1.87.
The price of petrol (blend) was also lowered by five US cents, from US$1.98 to US$1.93 per litre.
In local currency, diesel will retail at ZWG50.37 per litre, while petrol (blend) will sell for ZWG51.83 per litre.
Zera said the latest price adjustment reflects improved conditions in international oil markets following recent geopolitical disruptions.
"Government interventions continue to cushion consumers from the impact of global geopolitical developments," the regulatory authority said.
According to Zera, global fuel prices have stabilised following earlier market shocks linked to conflict in the Middle East and Eastern Europe, allowing for the downward adjustment in local pump prices.
The authority also confirmed that Zimbabwe's ethanol blending ratio remains unchanged at E20.
Fuel prices in Zimbabwe are reviewed periodically by Zera, taking into account movements in international oil prices, exchange rates and other market factors.
In a statement issued on Wednesday, Zera announced that the price of diesel had been reduced by 12 US cents per litre, from US$1.99 to US$1.87.
The price of petrol (blend) was also lowered by five US cents, from US$1.98 to US$1.93 per litre.
In local currency, diesel will retail at ZWG50.37 per litre, while petrol (blend) will sell for ZWG51.83 per litre.
"Government interventions continue to cushion consumers from the impact of global geopolitical developments," the regulatory authority said.
According to Zera, global fuel prices have stabilised following earlier market shocks linked to conflict in the Middle East and Eastern Europe, allowing for the downward adjustment in local pump prices.
The authority also confirmed that Zimbabwe's ethanol blending ratio remains unchanged at E20.
Fuel prices in Zimbabwe are reviewed periodically by Zera, taking into account movements in international oil prices, exchange rates and other market factors.
Source - Newsday
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