Fuel prices shoot up

THE price of fuel which has not been holding steady at the pumps has shot up again barely two weeks after fuel prices were adjusted for the third time in 2019.  

Observers fear the latest price hikes will have a ripple effect on food prices.

Petrol and diesel was only 10 days ago increased to $6,10 and $5,84 per litre but before motorists had digested that price, the pump price has now been increased to $7,47 and $7,19.

In a terse statement, Zimbabwe Energy Regulatory Authority (Zera) announced the new price regime which came into effect Monday morning.

Zera did not, however, give reasons for the continued upward review which is currently chasing the volatile interbank rate.