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Zimbabwe’s petrol, diesel prices go for pause amid shortages

By Almot Maqolo

HARARE, Zimbabwe. (News of the South)- In a big relief for already pressed Zimbabweans grappling with poor earnings, the continuous rise in petrol and diesel prices came to a pause today.

The Zimbabwe Energy Regulatory Authority (ZERA) has reverted back to reviewing prices of fuel on a weekly basis in line with movements in the exchange rate which is determined through foreign currency auctions being conducted every week.

The Zimbabwe dollar yesterday dropped to 63.7442 to the U.S. dollar from 57.3582 in the first forex auction.

With effect from today, ZERA said,fuel pump price of Z$71.62 or US$1.28 per litre for petrol and Z$62.77 or US$1.09 per litre for diesel will apply.

However, this time around fuel prices remained unchanged. Last month, ZERA reviewed fuel prices twice.

“Whether fuel prices remain constant or changes even up to ZW$100, the fuel supply side won’t change until the ReserveBankZIM stops pretending to be financing the importation of fuel with forex it doesn’t have,” said one twitter user.

Fuel situation worsened in the last few days with most of the fuel pumps in the capital still dry.

Long winding queues are visible at most fuel stations while most are completely empty.

Frustrated and desperate motorists are spending long hours parked at fuel stations.

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