Zimbabwe fuel regulator, the Zimbabwe Energy Regulatory Authority (ZERA) on Tuesday announced yet another fuel price increase with diesel and petrol now costing 17.47 Zimbabwe dollars and 16.75 dollars per liter respectively, with effect from Monday.
ZERA said on its Twitter handle that operators could still sell at prices below the cap depending on their trading advantages.
Fuel prices are based on the interbank exchange rate currently at about 1 U.S. dollar to 15 Zimbabwe dollars and also include free on board charges and transportation costs.
Zimbabweans have experienced huge fuel price increases since mid-January when President Emmerson Mnangagwa announced a general increase of more than 150 percent from 1.24 dollars to 3.31 dollars per liter for petrol and 1.36 dollars to 3.11 dollars per liter for diesel.
During that time, the rate of the local currency to the U.S. dollar was 1: 1.
After another 50 percent price increase in May, prices have generally been increasing marginally every week.
Although the prices are generally rising every week, they remain among the cheapest in the Southern African Development Community. Enditem