Here is why fuel has gone down in the country. The government through the Zimbabwe Energy Regulatory Authority (ZERA) has explained why the price of fuel has gone down in the country. Motorists queue to buy petrol in Harare, Zimbabwe REUTERS/Philimon Bulawayo
ZERA announced new fuel prices last Friday in which the new price of diesel went down by ZWL$2.27 from ZWL$19.55 per litre to ZWL17.28 per litre. ZERA announced that the reduction in the price of diesel was a result of a decrease in the price of diesel on the global market.
The regulator said that it is now working with local oil companies to ensure that the country has an adequate supply of fuel. Zimbabwe has been plagued by a shortage of fuel for the better part of the last two years.
ZERA also revealed that it was stepping up its surveillance efforts to ensure that people do not hoard fuel. Unsurprisingly, the government ends the statement by reiterating that people should “use fuel efficiently”. Below is the statement from ZERA, which iHarare is publishing in its entirety.
PRESS STATEMENT
Diesel supply
In view of the significant decrease of the diesel price on the international market, the Zimbabwe Energy Regulatory Authority (ZERA) met the oil marketing companies (OMCs) on 29 February 2020 and deliberated on the impact of the decrease on the local market.
The OMCs made a commitment to continue supplying diesel to consumers at the new price. Zimbabwe is a net fuel importer, hence any movement on the global market has an effect on the local price.
ZERA is working closely with OMCs to ensure the country has an adequate supply. Surveillance on possible hoarding of fuel is being carried. The public is urged to continue using fuel efficiently.
Source – iHarare
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