By Shongedzai Mugwagwa

Government has effected a downward review on fuel pump prices as announced by the Zimbabwe Energy Regulatory Authority (ZERA) with immediate effect.

In a statement released by the energy regulator, petrol pump price with effect from 12 November 2018 should be pegged at $1.38 per litre and diesel should be on $1.34 per litre.  Currently, fuel prices are on $1.39 per litre for petrol and $1.35 per litre for diesel.

The Minister of Energy and Power Development, Dr Joram Gumbo has warned that fuel players should abide with the Government’s newly introduced prices.

Last week he told the media that fuel shortages had normalised and the market will be flooded by the precious commodity after weeks of scarcity which was sparked by panic buying and hoarding. However, he warned that prices have normalised and they will go hand in glove with the international status quo of oil prices.

Minister Gumbo today, however, told this publication that the fuel prices will not remain fixed as they can be affected by the commodity’s international pricing.

A random survey carried out by this publication has shown that fuel retailers have started to effect the changes at their various fuelling stations.