By The Zimbabwe Energy Regulatory Authority (ZERA) has announced that they will not be releasing fuel updates for July in compliance with SI 270 of 2019, due to developments that are taking place on the international oil market.
Fuel operators are being advised to trade using June prices.
Over the past month’s motorists have seen an increase in fuel prices while the ZERA cited a general rise in fuel prices on the international market in January this year.
In a statement, the regulatory authority announced that fuel prices for July will be announced in due course.
“According to Statutory Instrument 270 of 2019, Petroleum (Petroleum Products Pricing Regulations, the Zimbabwe Energy Regulatory Authority (ZERA) is supposed to review and announce fuel prices by the 5th of every month.”
“However, due to developments that are taking place on the international oil market, ZERA will issue a statement on the July 2021 fuel prices after the statutory set date,” reads the statement.
ZERA added that they are closely monitoring the fuel price trends on the international oil market while consulting local key stakeholders on the likely impact of the developments on the final pump prices.
While Fuel operators are therefore urged to continue trading as per the June 2021 fuel prices while consultations are being finalised.
Comments