New Fuel Prices In Effect Zimbabwe

The Zimbabwe Energy Regulatory Authority (ZERA) has permitted an increase in fuel prices following a month with no adjustment in the price of fuel. The brand new fuel prices are effective Thursday, 4 June 2020.

Diesel has now gone as much as ZWL $24.93 per litre, a rise of ZWL $4.09 from the earlier price of ZWL $20.84 per litre. Blended Petrol has gone as much as ZWL$28.96 per litre. This is an increase of ZWL $7.96 from the earlier price of ZWL$21.00 per litre.

Using the government’s official exchange rate, the new fuel prices translate to roughly US$1 (ZAR 16.86 )for a litre of diesel and US$1.16 ( 19.56) for a litre of blended petrol.

Nevertheless, because of the huge mismatch between the government’s official exchange rate for foreign currency and the black market rates, a litre of diesel now prices US$0.36 (ZAR 6.07)on the streets whereas a litre of petrol prices US$0.41 (ZAR 6.91) on the streets.

Coincidentally, fuel additionally went up in South Africa on Wednesday, 3 June 2020. Diesel went up by 22 cents per litre while diesel went up by R1.18 per litre. This took the prices to ZAR 11.30 per litre of diesel and ZAR 13.40 per litre of petrol. In United States {Dollars}, this interprets to USD0.79 per litre of petrol and USD0.67 per litre of diesel.

This actually marks the first month of 2020 where the figures have each elevated, however this follows two record decreases as oil prices tanked during April and May, thanks to the global coronavirus crisis and subsequent lockdowns.

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