FUEL PRICES HIKE

Petroleum products prices are expected to increase with effect from Friday June 08.

This is according to a press release issued by the Petroleum Fund on Thursday. The release states that the main reason for the increase is the current increases of crude oil price in international market which has resulted in the products experiencing unit slate under recoveries as well as drop in.

According to the release, pump petrol price will be increased by .75 lisente and .70 lisente per litre for petrol 93 and petrol95 respectively, and both grades of diesel (50 and 500 parts per million Sulphur will be increased by .65 lisente per litre while wholesale price of illuminating paraffin will also be increased by .40 lisente per litre.

The new retail petrol prices countrywide in all the zones are uniform and will be M12.35 for petrol93, M12.50 for petrol95, diesel (500) M12.80, Diesel (50) M13.05 per litre and domestic paraffin M9.05.

It continues to appeal to all retailers to charge proper prices because it is illegal to charge prices that are different from the officially published ones.

It states that there have been tendencies in the past by some retailers of charging prices above those set, saying that should not happen, and any retailer who will be found in contravention of this shall be prosecuted accordingly.

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