Chaos Online As ZERA Releases May Fuel Prices In ZiG

Some people online are perplexed after the Zimbabwe Energy Regulatory Authority (ZERA) released fuel prices in ZiG.

The Energy Regulatory Body

At the beginning of every month, the fuel regulator releases fuel prices to be used as the base by all service stations in the country.

In the April fuel price review, ZERA pinned the price of diesel at US$1.68 and petrol at US$1.69. In Zimbabwean dollars, diesel was ZWL$44,325 and petrol blend sold for US$44,689.

Barely two hours after the fuel price announcement in April, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mushayavanhu announced a new currency. The Zimbabwe Gold (ZiG) replaced the inflation-battered Zimbabwe Dollar (ZWL).

It took a week for the public to begin transacting electronically. ZERA, however, did not immediately provide the ZiG prices for fuel.

ZERA Releases Fuel Prices In ZiG

Earlier today, the energy regulator released the May 2024 fuel prices. The price of diesel has tumbled by 2c to US$1.66. Petrol blend fell from US$1.69 to US$1.58.

ZERA went on to publish the ZiG prices for fuel. Diesel is going for ZiG22.24, while petrol is anchored at ZiG21.15.

The energy body added:

“Operators may sell the petroleum products below the prescribed prices depending on their trading advantages.”

The announcement of fuel in ZiG took ZImbos aback. During the 2024 Monetary Policy Statement presentation, Dr Mushayavanhu said fuel will still be sold in US dollars. This has been a bone of contention with the new currency.

The Governor later conceded that they are consulting and creating conditions for fuel sales in ZiG.

ALSO READ: Explosive Interview: RBZ Governor Dr John Mushayavanhu Details Potential Future for Fuel Sales in ZiG

CCC senator Murisi Zwizwai and some Varakashi accounts celebrated, saying fuel is now being sold in ZiG. This is false. Confusion reigned supreme over the ZERA update.

Murisi:

“As the Opposition, we don’t just need to oppose just for the sake of Opposing, but we must clap our hands when we see something good done. We’ve only one Zimbabwe to love above all, so this move is a welcome move, and we expect to see the newly introduced ZiG being successful and embraced.”

Mutema:

“Zera has been publishing the rtgs prices …..show me one person who bought the fuel in rtgs. Hahaha.

Munya:

“Wasn’t it the norm that they would gazette the price in two currencies but sell in USD? Let’s wait and see if they now accept Zig before we applaud the system.”

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