Zimbabwe hikes price of fuel but not as high as posted on social media


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Zimbabwe today increased the price of fuel by about a dollar to Z$6.10 a litre for petrol and Z$5.84 for diesel contrary to social media reports which had put the price of diesel at Z$10 and that of petrol at Z$12.

The fuel is technically less than a US dollar but some service stations are insisting on cash which is hard to come by.

The interbank rate at the Reserve Bank of Zimbabwe was Z$8.75 yesterday but banks do not have cash.

On the black market dealers were buying the greenback for Z$6.50 cash and Z$9 electronic.

Service stations that used to sell fuel in foreign currency are closed for the time being.

 

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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