Zim fuel prices doubled in March

Published Mar 19, 2007

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Harare, Zimbabwe - Fuel prices in Zimbabwe have roughly doubled in the past fortnight amid fresh shortages brought on by inflation and a devalued currency, analysts have reported.

The rise in fuel prices, attributed by those in the industry to the high cost of foreign currency needed to pay for it, has triggered a nationwide wave of increases in bus fares and commodities.

Zimbabwe's accelerating economic meltdown with inflation at 1730 percent and four out of five people unemployed, has helped fan growing public unrest against Robert Mugabe's rule.

Fuel prices have been rising steadily but analysts said the most recent increase was exceptional.

"This is one of the highest increases in a long time - a phenomenal rise," said Harare economist Witness Chinyama.

Urban and long-distance carriers have more than doubled fares. - AFP

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