BREAKING: President Mnangagwa raises prices of fuel to $3 per litre

Zimbabwe President Emmerson Mnangagwa has announced that the price of fuel has been hiked to $3.31. He was speaking in a press briefing on Saturday at State house.

The President said the move has be done to  prevent generalised price hikes which are hurting the ordinary commuting citizens.

We publish an excerpt of the statement below:

Starting midnight today, fuel prices have been increased. Diesel pegged at $3.11 per litre, Petrol pegged at $3.31. 

These prices are predicated by on the ruling official exchange rate of 1:1 between the Bond note and  Government is aware of attempts by certain elements seeking to cause unrest in the country by capitalising on fuel shortage. 

Where criminal traces are apparent, the law will take its course. 

Government to enhance the export incentive scheme by an additional 2.5%.Government is also putting in place a package of measures to cushion its workers, until a full review of cost of living adjustment package due in April 2019 is effected in the context of current budget. 

Government guests by way of foreign missions and other registered foreign bodies and tourists will fuel and refuel at designated points at price US$1.24 and US$1.32 for diesel and petrol respectively.