Today is Monday 23 September and just as ZERA (Zimbabwe Energy Regulatory Authority) has promised we now have new fuel prices which are already in effect. Just as we have come to expect the prices of both diesel and petrol have gone up.
Diesel is now selling at $12.08 ZWL up from $10.89 an increase of $1.09. Petrol, on the other hand, is now being sold at $11.55 ZWL up from $10.41 an increase of $1.41.
|Diesel ZWL/Litre||Blend ZWL/Litre|
|Duty (ZIMRA Exchange Rate-14.4320)||3.7758||3.9603|
|Oil Company Margin||0.6389||0.6112|
|Maximum Pump Price||12.08||11.55|
These are the largest increases in weeks
These are the largest increases in the prices of both fuels in weeks. Previous increases were only a matter of cents. The FOB (landing price) of both diesel and fuel has actually gone down from $0.5777 to $0.5752 and $0.5324 down to $0.5309.
The price increases are due to the continuous fall of the Zimbabwean dollar against the US dollar. Fuel prices are set in US dollars internationally and the continuous depreciation of the local currency over the past few weeks means fuel is now expensive in Zimbabwean dollars our new sole legal tender.
ZERA is now using an exchange rate of $9.50 ZWL compared to $8.50 ZWL: 1 USD from last Monday. In addition, ZIMRA is now using an exchange rate of $14.4320 compared to $12.8878 ZWL: 1 USD from a week ago.