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Oliver Kazunga, Senior Business Reporter

THE Zimbabwe Energy Regulatory Authority (Zera) has increased the price of both diesel and petrol by between 1,45 percent and six percent in both local and foreign currency.

The review, which is effective from yesterday, follows adjustments made in September as Zera cites general rise in fuel prices on the international market.

According to a public notice released by the regulatory body, the new prices of diesel are now $122,13 per litre or US$1,38 while petrol is now pegged at $123,71 per litre or US$1,40 per litre.

In September, the pump price of diesel was pegged at $115,15 per litre or US$1,34 while petrol was pegged at $118,42 per litre or US$1,38.

“Fuel operators may, however, sell at prices below the cap depending on their trading advantages.

“Stakeholders are advised that the petroleum price releases by Zera can be verified on the official Zera website, Facebook or Twitter handle,” it said.

Since January this year, there have been increases in the Free on Board (FOB) prices for petrol and diesel and this has a knock-on effect on the pump price of fuel.

@okazunga