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Zera hikes diesel price

by Staff reporter
07 Dec 2020 at 20:35hrs | Views
THE Zimbabwe Energy Regulatory Authority (Zera) yesterday announced a 19 percent price hike for diesel, which took immediate effect.

In a new fuel price notice, diesel is now $97,24 and US$1,19 per litre, while that for petrol remains largely unchanged at $97,44 and US$1,19 per litre.

In a statement yesterday, Zera said "operators may however, sell at prices below the cap depending on their trading advantage".

The new prices show that the price of diesel in Zimbabwe dollars has increased significantly from last month's price of $82,05 and the USD price has been reviewed upwards from US$1,00.

As for petrol, the price has been increased marginally in Zimbabwe dollars from $97,11 to $97,44 while there has been no change in USD terms.

The spike in diesel price comes on the back of a surge in demand for the product as farmers jostle to complete preparations for the 2020/21 planting season.

While farmers on the presidential input scheme may have an arrangement for diesel in place, those who are not on the scheme are likely to feel the price increase.

The situation is further worsened by the acute unavailability of diesel sold on local currency as most filling stations where the product is available charge in USD.

Source - dailynews

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