chronicle.co.zw 03 Aug, 2022 09:15 am

Fuel prices go down again

Fuel prices go down again
Bulawayo's most popular daily newspaper

Michael Makuza, Business Reporter THE reduction in fuel prices by the Government continues as the Zimbabwe Energy Regulatory Authority (Zera) reviewed prices effective yesterday.Economic commentators said the continued drop in fuel prices is likely to slow down the rate of increase in pricing of goods and services, which will give significant relief to consumers.In March, President Mnangagwa directed the Government to consider domestic remedies, including a reduction of duty and surcharges on petroleum products, to control the price of petroleum.Crude oil, which is the baseline raw material for most petroleum products, rallied to historic prices this year following the conflict in Eastern Europe, peaking at US$123 per barrel in March, before coming down to around US$100 recently.

In an update, the regulatory authority reduced diesel price by two cents to $1.On Wednesday last week, Zera reduced petrol prices by 9 cents to $1.

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