HARARE- The Zimbabwe Energy Regulatory Authority has announced a nominal increase in the price of fuel after the Zimbabwe dollar took a knock against the United States greenback at the Foreign Currency Auction System this week.
The local currency continued to fluctuate within the 81.00 band as it depreciated against the dollar. The local currency lost 0.3929 to trade at 81.6740 against the US dollar from 81.3531 attained late last week.
In its latest communique, ZERA said diesel rose from $0.82,05 to $0,97.11 while petrol prices increased by $0.15 from $1.
“Operators may, however, sell at prices below the cap depending on their trading advantages,” said ZERA in a statement.
The latest news is a big blow for motorists who are set for more headaches as the Zimbabwe National Roads Administration (ZINARA) is set to hike toll fees that are currently pegged at ZWL$45 for small vehicles.