Zimbabwe Raises Petrol Prices By More Than 25%
Fahad Shabbir (@FahadShabbir) Published October 07, 2019 | 12:50 AM
Harare, Oct 6 (UrduPoint / Pakistan Point News - 7th Oct, 2019 ) :The price of petrol went up again in Zimbabwe on Sunday, this time by more than 25 percent, the latest blow in a country battling out-of-control inflation.
The Zimbabwe Energy Regulation Authority (ZERA) announced the price of diesel would immediately rise to 16.64 Zimbabwe Dollars (about US$1), while petrol would go up to 14.97 Zimbabwe dollars.
At those prices, a full tank of petrol costs more than a month's salary for a cook or a maintenance worker, and more than half a month's salary for a doctor.
The main opposition Movement for Democratic Change (MDC) condemned the move in a tweet Sunday.
The government was piling more misery on to already suffering Zimbabweans, MDC said. "Surely this madness must stop." Already in January, the government almost tripled petrol prices and has regularly increased the prices since then.
The January announcement sparked violent protests that were put down by the security forces.
When troops opened fire on the demonstrators they killed 17 people and wounded dozens more.
Zimbabwe, once known as the bread basket of southern Africa, has been trapped in an financial and economic crisis for nearly two decades now.
President Emmerson Mnangagwa, who took over from long-time ruler Robert Mugabe after he was forced from power at the end of 2017, has promised to revive the economy, but so far without results.
Zimbabwe is shackled by a devalued Currency, mass unemployment, runaway inflation and shortages of essential items including petrol, electricity and water.
According to the International Monetary Fund, prices had risen by nearly 300 percent year-on-year in August. Analysts at the Bloomberg agency put inflation at 900 percent.
On Tuesday, tickets for the state bus company Supco doubled in price to one Zimbabwe Dollar.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Miscellaneous
-
Modern Education Techniques: A pathway to achieve economic development
13 hours ago -
Kite Flying: From cultural festival to deadly sport
13 hours ago -
PDMA predicts gusty wind, rain with thunder, hails
3 days ago -
Iranian president Raisi given guard of honour at PM House
4 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
5 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
5 days ago
-
Cattle farming vital to alleviate poverty in rural areas
5 days ago -
Pakistan: A land of tourism, archeological wonders
6 days ago -
Transforming education sector: from job hunters to job creators
8 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
11 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
12 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
12 days ago