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Zimbabwe fuel prices rise again
2 hrs ago |
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Zimbabwe fuel prices have risen again, barely a week after the Zimbabwe Energy Regulatory Authority (ZERA) announced the maximum prices for September.
ZERA said diesel would now cost a maximum of US$2.08 per litre, up from US$1.95, while blended petrol increased to US$2.06 from US$1.99.
The new prices took effect on September 17.
In local currency, diesel is now capped at ZWG55.57 per litre, while E20 blend petrol is pegged at ZWG54.97 per litre.
The latest adjustment comes just eight days after ZERA announced the previous prices on September 9, reflecting continued volatility in international fuel markets.
ZERA attributed the latest review to changing global market conditions, saying geopolitical tensions were continuing to put pressure on energy markets.
"ZERA will maintain continuous monitoring and review, as Government interventions remain in place to mitigate the impact of global geopolitical developments on consumers," the regulator said.
International oil markets have faced heightened uncertainty amid geopolitical tensions, concerns over crude supply and disruptions or risks affecting key shipping and energy routes.
The conflict involving Iran, as well as tensions between Saudi Arabia and Yemen's Houthi rebels, have added to concerns over energy supplies and transportation routes, with developments in major oil-producing and transit regions capable of influencing crude and refined-product prices.
Zimbabwe, which relies heavily on imported petroleum products, is particularly exposed to movements in international oil prices, which can feed through into domestic pump prices.
ZERA said the latest prescribed prices applied to diesel and E20 blend petrol, with the national blending ratio remaining at E20.
The regulator also clarified that fuel operators are permitted to sell below the prescribed maximum prices depending on their trading conditions.
"Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations," ZERA said.
ZERA said it would continue monitoring international market developments and reviewing fuel prices as conditions change.
ZERA said diesel would now cost a maximum of US$2.08 per litre, up from US$1.95, while blended petrol increased to US$2.06 from US$1.99.
The new prices took effect on September 17.
In local currency, diesel is now capped at ZWG55.57 per litre, while E20 blend petrol is pegged at ZWG54.97 per litre.
The latest adjustment comes just eight days after ZERA announced the previous prices on September 9, reflecting continued volatility in international fuel markets.
ZERA attributed the latest review to changing global market conditions, saying geopolitical tensions were continuing to put pressure on energy markets.
"ZERA will maintain continuous monitoring and review, as Government interventions remain in place to mitigate the impact of global geopolitical developments on consumers," the regulator said.
International oil markets have faced heightened uncertainty amid geopolitical tensions, concerns over crude supply and disruptions or risks affecting key shipping and energy routes.
The conflict involving Iran, as well as tensions between Saudi Arabia and Yemen's Houthi rebels, have added to concerns over energy supplies and transportation routes, with developments in major oil-producing and transit regions capable of influencing crude and refined-product prices.
Zimbabwe, which relies heavily on imported petroleum products, is particularly exposed to movements in international oil prices, which can feed through into domestic pump prices.
ZERA said the latest prescribed prices applied to diesel and E20 blend petrol, with the national blending ratio remaining at E20.
The regulator also clarified that fuel operators are permitted to sell below the prescribed maximum prices depending on their trading conditions.
"Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations," ZERA said.
ZERA said it would continue monitoring international market developments and reviewing fuel prices as conditions change.
Source - zimlive
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