THE Zimbabwe Energy Revenue Authority (ZERA) has increased, again, the price of fuel albeit with a few cents for both Diesel and Petrol, a move that will now see motorists forking out $9.36/ litre of diesel and $9.12/litre of petrol.
In a statement released on social media, the authority cited that because of the ever FOB price movements and the revised duty regime.
“The changes in price are due the FOB price movements and the revised duty regime (SI 161 of 2019) applicable from Monday 19 August 2019.”
Fuel prices have been increasing at an unprecedented rate in the southern African country since early 2019 and has been recorded as the major cause of deadly demonstrations that rocked the country earlier in the year, where a number people, unfortunately died.
The Zimbabwean government has been frantically making strides to restore the ailing economy with a number of measures put in place to resuscitate the economy being put in place, such as the Staff Monitoring Program with the International Monetary Fund (IMF) that was approved on May 15, 2019 up to May 15, 2019 to March 15, 2020.
The SMP is designed to support the authorities reform agenda.