ZERA begins accepting applications for fuel importation licences

The Zimbabwe Energy Regulatory Authority (ZERA) has started accepting applications for fuel importation licences for 2021, with the license fee being USD24 360.

This move prohibits the continued use of 2019 fuel procurement licences that were still in valid in last year.

ZERA is responsible for regulating prices of fuel products such as petrol, diesel, paraffin, denatured ethanol and ethanol blends, liquefied petroleum gas as well as jet A1in the petroleum sector.

In a statement, ZERA Chief Executive Officer, Edington Mazambani, said all petroleum firms have up to April 30 to apply for the 2021 fuel procurement licences. Zimbabwe imports 100 percent of its petroleum fuel requirements through pipeline, rail and road.

“We do hereby notify the petroleum industry that we are now accepting applications for the procurement (fuel importation) licences for 2021.

Please be advised that since the 2019 procurement licence was also valid in 2020, all procurement companies who used such licences to procure fuel in 2020 are required to pay $2 million (VAT) inclusive by 31 October this year, ” reads the statement.

ZERA has also announced a slight increase to fuel prices. The price of petrol stood at ZWL$112.96 (from ZWL$109.17) and USD1.34 (from USD1.30). Diesel prices also stood at ZWL111.77 (from ZWL110.41) and the USD price remained unchanged at USD1.32.

Prices by ZERA are inline with the government thrust to move into an economy which uses more local currency that foreign currency. Under this thrust, The Reserve Bank of Zimbabwe (RBZ) has been availing foreign currency to some oil companies to purchase fuel for sale in the local currency.

 

 

 

 

 

 

 

 

 

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