Sikhulekelani Moyo,Business reporter
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.
Article Source: The Chronicle