Price Update 26 August 2022
ZERA released updated pricing effective 26th August 2022. Petrol has increased by US$0.01 to US$1.58 and the blending ratio remains at E20. The price of diesel in US dollars remains unchanged at US$1.74. Prices for fuel in the local currency have increased as the currency loses value at the weekly auction.
Historical ZERA Fuel Prices
Price Update 16 August 2022
ZERA updated fuel pricing for Zimbabwe as of the 16th August 2022. New prices include a further reduction for petrol in USD, down to US$1.57 per litre from US$1.60 earlier in the month. Diesel priced in USD however remains unchanged at US$1.70 per litre. The ethanol blending ratio for petrol remains at 20%.
Price Update 2 August 2022
ZERA Fuel prices have hit a rare form trending downwards, rather than climbing as they have been this year. ZERA announced new prices as of 2 August 2022, which see petrol further reduced to US$1.60 and diesel down to US$1.74. Fuel in the local currency has continued to rise in cost, however, owing to the currency sliding against US Dollar.
Price Update 27 July 2022
ZERA has issued a new price update barely a week after the previous update. And for the second week in a row they have brought relief to motorists. Diesel has seen a US$0.04 decrease to a maximum of US$1.76 per litre. Local currency diesel is now priced at ZWL$727.69. Petrol has been reduced by a further US$0.09 to US$1.61 and ZWL$667.43. The larger reduction in price is however due to the increase of ethanol blending to E20.
Price Update 19 July 2022
ZERA fuel prices for the week of 18 July 2022 have been announced. For a change they should please motorists, if only a little. This price update sees the price of petrol reduced from US$1.76 to US$1.70 per litre. Prices in the local currency are also reduced from ZWL$677.32 to ZWL$675.35. The blending ratio is to remain at E15. Diesel is reduced by similar margins in USD from $1.86 per litre to US$1.80; however the price remains virtually unchanged in Zimbabwean dollars moving from ZWL$714.91 to ZWL$714.45 per litre. As usual, retailers may sell below these maximum stipulated prices depending on their trading advantages.
Price Update 13 July 2022
ZERA’s latest fuel price update sees the prices of petrol and diesel reduced by US$0.01 each to US$1.76 and US$1.86 respectively. However, prices in the local currency have increased to ZWL$677.32 and ZWL$714.91 as the exchange rate continues to slide.
Price Update 25 June 2022
ZERA has announced new fuel prices for the country for the second time this month; and the third in 5 weeks. As was the case previously, prices have been reviewed for both petrol and diesel.
Petrol has been increased to US$1.77 and ZWL$623.16 from US$1.68 and ZWL$481.02 respectively. Ethanol blending remains at E15. Diesel prices have seen similar increases and are now at a maximum of US$1.88 and ZWL$661.73 from US$1.74 and ZWL$499.56 .
What is curious to note about this update is ZERA’s inclusion of what the price would have been “without Government Intervention”. The government had previously reduced the ‘Strategic Fuel Levy’ and the increasing of ethanol blending should be helping to reduce the final price of the commodities. Without this intervention, ZERA states that the prices for petrol and diesel would be US$1.84 and US$2.01.
Countries are currently battling inflation and the effects of the Russia-Ukraine conflict. Non-oil producing countries are unsurprisingly bearing the brunt of rising fuel costs and one wonders if it is only a matter of time before we break the US$2/litre threshold.