Energy

Glimmer of good news for Zim motorists as fuel prices fall

STAFF REPORTER

Zimbabwe’s fuel prices at forecourts have fallen following a price plunge in crude oil on the international market.

The price of petrol has dropped by ZWL$0.77 per litre to ZWL$21 a litre from ZWL$21.77 while diesel declined by ZWL$0.68 per litre to ZWL$20.84 a litre from ZWL$21.52 a litre.

ZERA confirmed the reduction in fuel prices on Tuesday.

“Please be advised that fuel prices effective Tuesday, 5 May 5, 2020 are as follows: maximum pump price for diesel is $20,84 and $21 for blend. Operators may, however, sell at prices below the cap depending on their trading advantages,” read the statement.

The coronavirus pandemic has caused the price of crude oil to plummet as economies shut down and motorists stay at home.

The United States West Texas Intermediate crude futures went down to about US$18 per barrel from about US$35 per barrel last week, while Brent futures were down to US$20 per barrel from US$37 per barrel.

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