Fuel price increase... 500%

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Thu 28 Aug 2003 19:12
Fuel price increase... 500% - Ian (Cape Town)
You think you've got it bad ...

Harare - The price of fuel in Zimbabwe went up by more than 500% on Wednesday as the government announced a deregulation of the petroleum oil industry.
Diesel that used to cost 200 dollars a litre will now be sold at 1 060 dollars while the petrol price has gone up from 450 to 1170 dollars.
Lately fuel has been available on the black market at prices that were eight times more than the official pump price.

The largest denomination note in Zim is the $500. On the present exchange-rate, if you can find anyone to touch them, that is worth about 45p.
So work out how big a wallet you need!
The price of goods is so astronomical, that it would work out cheaper to use the smaller denominations ($5, $50 etc) for the task than to use it to purchase lavatory paper.

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Thu 28 Aug 2003 19:51
Fuel price increase... 500% - THe Growler
Yes I have friends in Zim and they joke grimly about needing a wheelbarrow to take their money to the supermarket. Shades of the Reichsmark in the Weimar Republic. Can only be a matter of time.
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