Business

Zera reduce prices of LPG

LIQUEFIED petroleum gas (LPG) users will pay 4,3 percent less this month after the Zimbabwe Energy Regulatory Authority reduced the retail price for the commodity in both local and foreign currency.

The retail price for LPG has been reviewed to US$2,05 and $222,32 per kilogramme.

Last month the regulatory authority set the retail prices of LPG at US$2,14 and $225,92 per kg.

“Stakeholders are advised that LPG prices for January calculated according to Petroleum (Liquified Petroleum Gas Pricing) Regulations 90 of 2021 are as follows, US$2,05 and $222,32 per kg,” said Zera in a statement last week.

However, many gas dealers continue to peg their prices above the stipulated prices especially in local currency.

The dealers have said their challenge is that where they get the gas suppliers do not accept local currency and thus it was also hard for them to buy forex for restocking if they sell in local currency.

The Zimbabwe Energy Regulatory Authority (Zera) advised operators to display the prices at their outlets at a prominent place in clearly legible letters.

“Please note that it is permissible to sell LPG at prices below the prescribed prices depending on one’s trading advantages,” it said.

The liquefied petroleum gas industry had remained an open market without price regulations from Zera, until August 2021 when the authority through Sections 54 of the Petroleum Act as refined by Statutory 90 of 2021 was empowered to do so.-Chronicle

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