THE Zimbabwe Energy Regulatory Authority (Zera) has marginally increased the price of petrol and diesel by ZWL$0,29 and ZWL$0,18, respectively, with immediate effect as the local currency continues to plunge against the United States dollar.

Zera acting chief executive officer Edington Mazambani last night confirmed the increases, saying fuel dealers had been advised accordingly.

“It’s true, the prices you have are true. Fuel has gone up,” Mazambani said.

The retail price of blend petrol is now ZWL$5,26 per litre up from ZWL$4,97 and diesel will sell at ZWL$5,07 from ZWL$4,89 per litre. The price for ethanol is now ZWL$4,60 per litre. This is the third fuel increase within six months.

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“Please be advised that the maximum pump prices for fuel will be as follows: Blend RTGS$5,26, diesel RTGS$5,07 per litre. The margins are as follows: Wholesale RTGS$0,20 cents per litre (and) retailer RTGS$0,25 cents per litre,” Mazambani said in a communiqué to oil firms yesterday.

Recently, some fuel dealers unilaterally increased the price of fuel to around ZWL$7 per litre, but were later forced to reverse the pump price hike by Energy minister Fortune Chasi.