ZUPCO to double standard fare from 50 cents to $1 from Tuesday

The Zimbabwe United Passenger Company, which is currently providing the cheapest transport in the country, is to increase its standard fare from 50 cents to $1 from Tuesday, 1 October.

This was announced today by the Ministry of Information on its twitter handle.

It did not give any reasons but the cost of fuel has increased in nominal terms from US$3.31 in January to $12.08 for diesel and $11.55 for petrol this week.

While the price for fuel from January to April was reportedly in US dollars, though the RTGS dollar had started falling against the United States dollar from October last year, it started falling in US dollar terms from May.

According to Trading Economics, the price of fuel in Zimbabwe averaged US$1.42 in May, fell to 89 US cents in June, went down to 83 US cents in July but rose to 97 US cents in August.

The price has, however, been increasing in Zimbabwe dollar terms and has more than doubled between July and this month.

(115 VIEWS)