FULL TEXT: ZERA Speaks On Fuel Prices

FULL TEXT: ZERA Speaks On Fuel Prices 1

FULL TEXT: ZERA Speaks On Fuel Prices 2

The public’s attention is drawn to statements circulating on social media regarding the pricing of fuel in the country. The statements are false and malicious and were not issued by the Ministry of Energy and Power Development nor the Zimbabwe Energy Regulatory Authority. Members of the public are advised to ignore the messages, which are clearly aimed at causing anarchy and pessimism in the fuel sector.

Section 54 of the Petroleum Act (Chapter 13:22) specifically mandates ZERA in consultation with the Minister of Energy and Power Development to set fuel prices in Zimbabwe. The public is advised that the regulations on fuel pricing contained in Statutory Instruments 80 of 2018, 20 and 100 of 2015 have not changed. The fuel prices are set on a weekly basis based on the above regulations and these prices are shared with all oil companies and also published on ZERA website.

Monitoring of the regulated prices is conducted on an ongoing basis with those caught flouting the regulations being punitively fined. The public is urged to desist from panic buying and hoarding given the hazardous nature of petroleum products when stored in undesignated places. ZERA and other law enforcement agencies continue to monitor the situation.

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Source: Zimeye

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