ZERA Raise Fuel In USD, Reduce In Zimbabwean Dollars: 8 August 2023

The Zimbabwe Energy Regulatory Authority (ZERA) has increased diesel and petrol prices in USD and decreased in Zimbabwean dollars with effect from 8 August 2023. In a statement published by Pindula News, ZERA said the new prices are as follows:

• Diesel 50: ZWL7,492.63
• Diesel 50: US$1.65,
• Blend – E20: ZWL7,300.72
• Blend – E20: US$1.61

In July, ZERA had released the prices per litre as follows:

• Diesel 50: ZWL9,200.03
• Diesel 50: US$1.58;
• Blend – E20: ZWL9,113.66
• Blend – E20: US$1.57.

The prices for August 2023 are based on M-1 which refers to refer to the cost of importing fuel into Zimbabwe. The M-1 price is determined by various factors, including international crude oil prices, transportation costs, port charges, insurance costs, and taxes. The M-1 price is used as a basis for setting the local pump prices of petrol and diesel in Zimbabwe. The M-1 price is subject to change depending on the fluctuations in the global oil market and other factors that affect the cost of importing fuel.