Harare - Zimbabwe has raised the price of petrol and diesel by 12%, the second increase this month, the energy regulator said on Tuesday, piling more pressure onto consumers hit by soaring inflation.
The last round of fuel price hikes on Oct. 5. saw prices rise 27% and was followed by a 320% increase in the cost of electricity, triggering a spike in the cost of basic goods such as sugar, maize meal and milk.
Petrol will now cost 16.67 Zimbabwe dollars ($1.07) a litre while diesel will cost 17.47 Zimbabwe dollars, the Zimbabwe Energy Regulatory Agency said.
The latest hike has failed to ease nationwide shortages, with most of the fuel pumps in the capital still dry.
With prices surging, economists examining the official monthly data put inflation in September at 380%.