(Bloomberg) -- Zimbabwean government has hiked the prices of gasoline to $3.11 per litre from $1.34 and diesel to $3.21 per litre from $1.49, effective Saturday midnight, President Emmerson Mnangagwa told reporters at State House late Saturday.

  • Zimbabwe has been experiencing gasoline shortages since last October due to foreign currency shortages
  • Government has decided to grant a rebate to all registered business entities in the manufacturing, mining, commerce, agriculture and transport sectors, Mnangagwa said, in order to prevent generalized price increases of goods and services
  • Zimbabwe has put in place measures to ensure constant fuel supply into the country for sustainable fuel availability, Mnangagwa said
  • "Government is aware of attempts by certain elements bent on taking advantage of the current fuel shortages to cause and sponsor unrest and instability in the country," he said, adding "such politically motivated will not be tolerated"

To contact the reporters on this story: Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net;Desmond Kumbuka in Harare at dkumbuka@bloomberg.net

To contact the editors responsible for this story: Chakradhar Adusumilli at cadusumilli@bloomberg.net, Yueqi Yang

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