Monday, September 28, 2020

Zimbabwe’s fuel prices rise by 150%

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EllSamwise King
A Civil Engineer & Freelance Blogger, Journalist, Entrepreneur, and Philanthropist. CEO of Skyline Consortium & 9189 Media Consult. An alumnus of Prempeh College where he read General Science. He holds a first degree in Bachelor of Science from the Kwame Nkrumah University of Science and Technology. His mentors are Alvar Alto, Rupert Murdoch, Piers Mogan, Mensa Otabil, Bernard ElBernard Nelson-Eshun. He also blogs for; http://www.233times.com | www.paemuka.com | http://www.playmusicgh.com | http://www.muzikiq.com | http://www.brandsaid.biz He is a Social Media Mogul and Digital Marketer. Social Media Manager for Eon3 Group | BrandsAid | Kings Crown Media | Carabao Africa | Carabao Ghana | Calvary Temple - ICGC | Team Sarkodie | Muzik IQ | Kwaw Kese

The price of petrol and diesel in Zimbabwe is to more than double with immediate effect, the country’s energy regulatory authority has announced.

The increase of 150% comes a day after the Zimbabwean dollar fell by more than 50% against international currencies.

This happened after the central bank removed a fixed currency exchange rate in place since March, and introduced a weekly foreign exchange auction.

Zimbabwe has been plagued by fuel shortages for years, compounded by a lack of foreign currency.

In January 2019, violent protests broke out when fuel hikes of more than 120% were introduced.

The state crackdown at the time left more than a dozen people dead.

 

Source: bbc.com
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