By Savious Madanhire
Amid the economic struggle across the country with other companies shutting down and workers being retrenched, the Zimbabwe Energy Regulatory Authority (ZERA) has announced a 5% increase in fuel prices effective February 5, 2025, until March 4, 2025.
“The adjustment sees Diesel 50 and Blend – E15 prices rising by up to 5% compared to January, with Diesel 50 now costing ZWG 41.58 per liter, up from ZWG 39.61, while Blend – E15 has increased to ZWG 40.50 per liter, from ZWG 38.12. In US dollars, Diesel 50 is priced at $1.58 per liter, up from $1.53, and Blend–E15 now costs $1.53 per liter, up from $1.48,” reads the statement.
This adjustment follows a steady increase in fuel prices over the past month hence petrol prices have risen by 5 cents, now costing $1.53 per litre, up from $1.48 in January, while diesel prices have similarly increased by 5 cents to $1.58 per litre.
Furthermore, the authority pegged fuel prices in the local currency as well but many fuel stations in the city of Gweru continue to reject the local currency claiming that their suppliers only accept foreign currency for them to restock fuel.
In addition, the increase in fuel prices to an extent might be positive but on the other hand negative especially for commuter omnibuses, they might start to reject the local currency for transport or even if they accept, it might lead to an increase in transport fares across the nation for both local and highway.
Moreover, the prices of goods in stores may increase as well citing the transportation costs of goods. This may be difficult for many especially employees earning the local currency to purchase fuel with high exchange rates in the black market.
Fuel remains the most vital component in the economy as most jobs require fuel for operations such as mining, and engineering amongst others need fuel to survive hence this increase might hurt the operation of many.
