Diesel Price Now Higher Than Petrol
5 years agoSat, 03 Aug 2019 22:12:17 GMT
For the first time in a long time in Zimbabwe, the price of diesel has overtaken that of petrol. This happened with the latest price increases announced today by the Zimbabwe Energy Regulatory Authority (ZERA)
Diesel is now ZWL $9.06 per litre, where petrol is ZWL $9.01.
| Diesel (ZWL/Litre) | Blend E20 (ZWL/Litre) | ||||
|---|---|---|---|---|---|
| New Price | Old Price | New Price | Old Price | ||
| FOB | 0.6052 | 0.6002 | 0.5888 | 0.5856 | |
| Exchange Rate | 7.5000 | 7.5000 | 7.5000 | 7.5000 | |
| Duty (ZIMRA Exchange Rate - 9.0938) | 2.4883 | n/a | 2.7323 | n/a | |
| Oil Company Margin | 0.4796 | 0.3820 | 0.4767 | 0.3996 | |
| Dealer Margin | 0.5930 | 0.4724 | 0.5895 | 0.4942 | |
| Maximum Pump Price | 9.06 | 7.22 | 9.01 | 7.55 | |
On Thursday, Finance Minister Mthuli Ncube announced a fuel excise duty increase from 19% (petrol) and 16% (diesel) to 45% and 40%, respectively.
The new prices are in part a response to those changes too. Earlier in the month, Ncube also indicated that the government’s objective is for fuel to retail at around US $1 to match the general prices in neighbouring countries.
