Sunday News Reporter
The Zimbabwe Energy Regulatory Authority (ZERA) has announced a more than 130 percent hike in fuel prices pegged in local currency.
Zera also announced new prices of in US$ effective Wednesday.
In a statement Zera said litre of diesel now costs $62.77 in local currency and US$1.09 in foreign currency.
Petrol has been pegged at $71.62 in local currency and US$1.28 in foreign currency per litre.
The new prices came a day after the Reserve Bank of Zimbabwe implemented a foreign currency auction trading system that did away with the fixed rate of foreign currency.
On the first day of auction on Tuesday the local dollar traded at $57.37 to the US$.