As a result of the massive fall in crude oil prices across the world caused by the lack of demand from the COVID-19 pandemic lockdown, the Zimbabwe Energy Regulatory Authority (ZERA) has cut down on the price of crude oil products sold within the country such as diesel, petrol, kerosene, etc.
According to the regulatory body, diesel was previously sold at $21.52 per litre and will now be sold at $20.84 per litre. Petrol which was sold at $21.77 per litre will now be sold as $21 per litre.
ZERA said that operators may sell for lower than the new prices if they wish, but they cannot sell at a higher price.
In the last month, Crude oil prices fell to its lowest point in history at $-37.63 per barrel and have slowly gained traction with the easing of the pandemic lockdown in many countries across the world.
