No fuel price hikes:ZERA

Zimbabwe Energy Regulatory authority has said fuel prices have not been reviewed amid social media reports that claim the prices have gone up again.

However Zera sources told this publication that prices will eventually increase to around RTGs 5.

“Prices have not gone up but anytime soon the prices may go up to RTGS 5,” said the source.

“Following a post circulating on social media on the increase of fuel prices, ZERA wishes to assert that fuel prices have not been reviewed,” read the statement.

Finance and Economic Development Permanent Secretary George Guvamatanga added that current prices have to be maintained in so far as they are not reviewed.

“The government has not increased the price of fuel. While the review of fuel prices was done the decision is that current prices should be maintained,” he said.

The liberalisation of the fuel market by ZERA on the last review meant that the parallel market will be determining its price and now that the rate has gone high, the prices of fuel are aiming to go high also.

Last week ZERA reviewed the prices upwards to RTGS$4.88 and $4.98 for both petrol and diesel.