Black market fuel price rises from Z$450 000 -to- Z$700 000 per litre (27-09-07

BLACK market fuel prices shot up this week from Z$450 000 to Z$700 000 per litre, a development which has led to commuter bus operators increasing fares.

Most public transporters in Harare and other cities have responded to the increment by revising fares upwards.

R>The official pump price of petrol is Z$65 000 while diesel is sold at Z$60 000. Because of the shortage of the commodity on the official market most public transporters have now resorted to the black market.

By mid-day both local commuter omnibus operators and long distance bus operators had effected the new fare increases.

A snap survey carried by CAJ News revealed that commuters from some western suburbs in Harare were already forking out $150 000 up from $70 000 for a single trip while long distance buses were charging $1,8 million for a single trip from Bulawayo to Harare. Before this latest increment the route used to cost $400 000.

Other commuters are charging $100 000 from $50 000.

Economists have attributed the current shortages of fuel in the country to the removal of concessionary exchange rate by government from the Zimbabwe Revenue Authority (Zimra) which fuel importers used to enjoy.

Petroleum companies blame the current fuel shortage on foreign currency shortages.
Officially opening the National Oil of Zimbabwe Company (Noczim) service station in Bulawayo early this month the minister of energy and power development-CAJ News.

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