BY METHEMBE SIBANDA
THE Zimbabwe Energy Regulatory Authority (Zera) yesterday scrapped the mandatory fuel blending directive introduced in 2011.
The introduction of mandatory blending came against the backdrop of fuel crises, and the need to promote local investments.
In a statement, Zera also announced a downward review of fuel prices.
“The public and operators are advised that the blending ratio has been reviewed from E10 to E0,” the statement read.
“Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided by the fuel pricing regulations.”
Zera pegged the new price for Diesel 50 in local currency at $149,55 per litre down from $150,31, while that of petrol is pegged at $152,87 from $154,56 in December last
In United States (US) dollars, the price of Diesel 50 remains pegged at US$1,38, while that of petrol (E0) is now pegged at US$1,41 down from US$1,42 per litre.
The latest review follows adjustments made early last month, when Zera slightly increased the prices of fuel, citing a general rise in fuel prices on the international market.
Recently, Zera extended the expiry dates of fuel procurement (import) licences to January 15 to ensure that there are no fuel supply disruptions in the country.
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