Zera shifts to monthly fuel price updates

THE Zimbabwe Energy and Regulatory Authority (Zera) will, going forward, be issuing monthly fuel price updates from weekly so as to ensure stability over a long period of time.

Since May last year, the regulator has been giving weekly fuel price updates to assist the market following unstable fuel supply globally due to the Russia-Ukraine war, which has seen fuel price fluctuation.

“Stakeholders are advised that a decision has been made to migrate to monthly as opposed to weekly pricing that has been in place since May 2022. This is to ensure stability over a long period,” said the regulator in a statement today.

As a starting point, Zera has released a two-week review, which indicates that fuel prices remain stable with diesel 50 going for US$1,70 per litter from US$1,71 last two weeks while blend petrol goes for US$1,61 per litter, the same as the last two weeks.

“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,” said Zera.-chronicle