Zimbabwe increases price of fuel by nearly $2


0

Zimbabwe increased the price of fuel by nearly $2 a litre with effect from yesterday.

Diesel went up from $15.64 to $17.47 a litre while that of petrol increased from $14.95 to $16.75.

The price of fuel had been static for three weeks.

The Zimbabwe Energy Regulatory Authority used an exchange rate of 15.5711 to the United States dollar up from 13:1 three weeks ago.

The interbank rate is about 15.6 to US$1.

This means that the price of diesel is about US$1.14 while that of petrol is US$1.07.

Fuel is selling at US$1.25 a litre at service stations that sell it in foreign currency.

Finance Minister Mthuli Ncube said his wish was to get the price of fuel to at least US$1.

He also promised that price adjustments are likely to be completed by the end f this year with the country focusing on job creation and productivity from next year.

(100 VIEWS)

Don't be shellfish... Please SHAREShare on google
Google
Share on twitter
Twitter
Share on facebook
Facebook
Share on linkedin
Linkedin
Share on email
Email
Share on print
Print

Like it? Share with your friends!

0
Charles Rukuni
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.

0 Comments

Your email address will not be published. Required fields are marked *