A while back the Zimbabwe Energy Regulatory Authority promised to review prices of diesel and petrol every week in line with movements in the exchange rate and other factors. Yesterday, just as they have done for the past number of weeks, they reviewed the price of diesel and petrol upwards.
The price of diesel has gone up from $12.08 ZWL to $12.42 an increase of 34 cents. This time the increase was a result of a combination of an increase in the landing price of fuel (FOB price) and an increase in ZIMRA tax (brought on by the increase in the exchange rate used for duty purposes by ZIMRA). The government is still using an exchange rate of $9.5 as to $1 USD just like last weeks.
Detailed pricing structure
|Diesel ZWL$/Litre||Petrol ZWL$/Litre|
|Duty (ZIMRA Exchange Rate-15.163)||4.0095||4.1708|
|Oil Company Margin||0.6568||0.6220|
|Maximum Pump Price||12.42||11.76|
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