The Zimbabwe Energy Regulatory Authority (ZERA), has refuted statements circulating on the social media regarding the pricing of fuel in the country.

In a statement to ZBC News, ZERA said the statements are false and malicious and were not issued by the Ministry of Energy and Power Development nor their organisation.

The regulatory authority is advising members of the public to ignore the messages which are aimed at causing anarchy and pessimism in the fuel sector adding that section 54 of the Petroleum Act (Chapter 13:22) specifically mandates ZERA in consultation with the Minister of Energy and Power Development to set fuel prices in Zimbabwe.

The public is further advised that the regulations on fuel pricing contained in statutory instruments 80 of 2018, 20 and 100 of 2015 have not changed.

ZERA also said the fuel prices are set on a weekly basis based on the above regulations and these prices are shared with all oil companies and published on its website.

The regulatory authority also said monitoring of the regulated prices is conducted on an ongoing basis with those caught flouting the regulations being punitively fined.

Meanwhile, the public is urged to desist from panic buying and hoarding given the hazardous nature of petroleum products when stored in undesignated places.

ZERA and other law enforcement agencies have in the meantime pledged to continue monitoring the situation.