Zimbabwe's fuel price up by 500%

[dArKeR]

The price of fuel in Zimbabwe went up by more than 500 percent on Wednesday as the government announced a deregulation of the petroleum oil industry.

Energy Minister Amos Midzi announced on state television the government was relaxing controls on the oil industry to allow private operators to import their own fuel.

The opening up of the oil sector to private players came with the introduction of a dual fuel pricing system under which government-procured fuel would be sold to government departments and public transport operators at the old government prices.

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