Zimbabwe hikes price of fuel but not as high as posted on social media

Zimbabwe hikes price of fuel but not as high as posted on social media

Zimbabwe today increased the price of fuel by about a dollar to Z$6.10 a litre for petrol and Z$5.84 for diesel contrary to social media reports which had put the price of diesel at Z$10 and that of petrol at Z$12.

The fuel is technically less than a US dollar but some service stations are insisting on cash which is hard to come by.

The interbank rate at the Reserve Bank of Zimbabwe was Z$8.75 yesterday but banks do not have cash.

On the black market dealers were buying the greenback for Z$6.50 cash and Z$9 electronic.

Service stations that used to sell fuel in foreign currency are closed for the time being.

 

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