Mnangagwa Announces Increase In Fuel Prices

President Emmerson Mnangagwa has just announced that fuel prices are going up. Petrol will now cost $3.31 per litre while Diesel is now $3.11 per litre.

This comes at a time when the country has been haunted by long fuel queues due to persistent fuel shortages. Analysts and economists had blamed the fuel shortages on the government’s insistence that the Bond Note was equal to the United States Dollar which resulted in fuel becoming much cheaper in Zimbabwe in real money terms as the bond note was trading at a 30 percent discount to the USD. However, the increase in the price of fuel will have domino effects on the rest of the economy.

We publish the President’s full statement below,

 

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