Energy regulator, the Zimbabwe Energy Regulatory Authority (ZERA) has announced a circa 30 percent increase in the Zimbabwe dollar (ZWL) price of petrol and diesel, effective August 4.

But fuel companies are almost exclusively selling the commodities in United States dollars.

The US dollar price of both petrol and diesel has remain unchanged from previous month figures of US$1,09 a litre for diesel and US$1,18 a litre for petrol.

According to ZERA, the new ZWL prices stand at ZW$83,35 per litre for diesel while petrol was pegged at ZW$93,15 a litre.

The authority is trying to keep the ZWL price in line with the exchange rate, which moved to US$1: ZWL$80, 4 following the latest forex auction on Tuesday.

Previously, the pump price of petrol was pegged at $71,62 per litre while diesel was pegged at $62,77 a litre.

“Operators may, however, sell at prices below the cap depending on their trading advantages,” said Zera in a statement.

Motorists have however complained about fuel companies’ apparent disdain of existing dual pricing regulations.

The introduction of the forex auction system in June was accompanied by a requirement for businesses – including fuel companies – to dual price their goods and services.