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Motorists to face fuel increments in the next few weeks

6ย years agoWed, 11 Oct 2017 09:03:32 GMT
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Motorists to face fuel increments in the next few weeks

Fuel prices are set to increase in the next few weeks due to a rise in the price of fuel on the international market. Zimbabwe Energy Regulatory Authority (Zera) Gloria Magombo said:

If you look at the average price we had for January of this year for diesel was around 51 cents and petrol also around 51 cents. It went up a bit in February and March then started coming down in April, May, and June. In July, it hit bottom at 47 cents per litre but started going up so it has been a gradual increase going up.

I think we hit $58 (price per barrel of crude oil) last week because on a pricing point of view, we are about two weeks behind and will get to that level which is equivalent to $58 in another two weeks. So the prices have been going up. We have an independent platform where we get fuel prices, Beira, on a daily basis. The average fuel prices are the ones which are used for pricing the local products

More: NewsDay

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