Fuel price goes up, the second time in two weeks

By Justin Mahlahla

The pump price of petrol has gone up from US$1.51 per litre to US$1.67, while diesel went up to US$1.68, from last Wednesday’s US$1.51.

The Zimbabwe Energy Regulatory Authority (ZERA) made the announcement this morning on their Twitter page.

The prices, according to ZERA, have been set in accordance with the increasing oil prices on the international market, which the authority said is continuously monitoring.

“The public and operators are advised that the blending ratio remains at EO. 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.”

Russia is the world’s second top producer of crude oil after Saudi Arabia, and supplies about a third of Europe’s needs. The price of Brent crude rose by more than a fifth last week amid fears of a reduction in Russian supplies following the Russian operation in Ukraine.

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