Govt orders fuel price cuts


HARARE - Government has ordered fuel dealers to immediately reduce prices by between seven and 14 percent to arrest spiralling prices.

Energy minister Simon Khaya Moyo told journalists in Harare yesterday that petrol will now retail at $1, 35 while diesel and paraffin will trade at $1, 23 and $1, 17 respectively.

“As the Energy minister I expect and trust that this important decision by government shall be implemented by all concerned parties. I therefore expect nothing short of compliance immediately,” Khaya-Moyo said.

“Going forward the price of fuel will either go up or down in tandem with the international oil prices,” he added.

President Emmerson Mnangagwa announced recently that his government was considering a cocktail of measures to reduce local production costs, including a reduction in fuel taxes and tax debt cancellation.

Zimbabwe’s fuel is the most expensive in southern Africa despite government introducing a mandatory blending policy that requires fuel companies to blend unleaded petrol with ethanol to reduce the import bill.

 

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