HARARE, March 19: Fuel prices in Zimbabwe have skyrocketed by up to 200 per cent in the last fortnight amid fresh shortages brought on by inflation and a devalued currency, analysts said on Monday.

The rise in fuel prices, attributed by industry players to the high cost of foreign currency needed to finance its importation, has triggered a wave of increases in bus fares and commodities across the country.

The increasing economic meltdown in Zimbabwe, with inflation now standing at some 1,730 per cent and four out of five people unemployed, has helped fan the growing unrest towards veteran President Robert Mugabe.

While fuel prices in the southern African country rise constantly under an ever-increasing inflation rate, analysts say this rise was nevertheless exceptional.

Urban and long distance transporters have hiked their fares by at least 150 per cent, and petrol is now sold at garages for 13,000 Zimbabwe dollars ($52 dollars) compared to 2,000 Zimbabwe dollars in January.

Diesel now costs 15,000 Zimbabwe dollars a litre.—AFP