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Fuel price increase

    JOHANNESBURG
    Zimbabwe's state oil procurement agency on Tuesday raised retail fuel prices by about eight percent, citing high prices on the world market, difficulties in getting foreign currency and high interest rates, news reports said. "This will not go down well with ordinary people who are living with great difficulty in a free-fall economy," Bidi Munyaradzi, the director of Zimrights told IRIN. "People simply cannot afford these increases any more." But the National Oil Company of Zimbabwe (NOCZIM), said in a statement it had no option but to hike prices to stay afloat. In October, it had already raised fuel prices by an average 30 percent.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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