HARARE, Jan. 12 (Xinhua) -- Zimbabwean President Emmerson Mnangagwa on Saturday announced fuel price increases of about 240 percent with effect from Sunday.
He said the prices were predicated on the prevailing rate of 1:1 between the U.S. dollar and the surrogate bond note.
Addressing journalists at the State House ahead of his tour of Eastern Europe and Switzerland, Mnangagwa said: "the government has today decided on the following corrective measures, with effect from midnight tonight, fuel pump price of 3.11 dollars per liter for diesel and 3.31 for petrol will come into effect."
Petrol was selling for 1.32 dollars per liter in the Southern African country before Sunday's hike.
"Guests of government by way of foreign missions, other registered foreign bodies and tourists will fuel and refuel at designated points at the price of 1.24 U.S. dollars per liter for diesel and 1.32 U.S. dollars per liter for petrol upon production of proper identification documents," Mnangagwa said.
