ZERA raises fuel prices by 24 cents on February, cites Ukraine war

HARARE – Zimbabwe raised the price of diesel by 17 cents and petrol by 16 cents on Wednesday, the second sharp increase inside four days.

Only on March 5, energy regulator ZERA had raised fuel prices to US$1.51 for both diesel and petrol.

Diesel, now US$1.68 is 24 cents up from the February price of US$1.44, while petrol at US$1.67 per litre is 23 cents more expensive.

Few service stations accept the Zimbabwe dollar, but for those that do, a litre of diesel is now Z$218.01 and petrol Z$216.78 up from Z$195.99 and Z$195.72 respectively.

ZERA, in a statement accompanying the latest increase, said “prices have been set in accordance with the increasing oil prices on the international market, which ZERA is continuously monitoring.”

International oil prices have jumped significantly over the past week as global sanctions cripple Russia’s ability to export crude oil following its invasion of Ukraine.

Fuel prices could knock on US$2 a litre before the crisis ends, industry experts warn.

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