Fuel prices hold steady

Sunday News (Zimbabwe) - - Front Page -

THE price of fuel yes­ter­day re­mained un­changed at an av­er­age $1,34 for diesel and $1,38 to $1,45 for petrol de­spite the com­ing into ef­fect of in­creased ex­cise duty on petroleum im­ports on 1 De­cem­ber 2018.

Our Harare Bureau has also es­tab­lished that Gov­ern­ment has re­duced the manda­tory blend­ing ra­tio of ethanol with un­leaded petrol from 20 per­cent to 15 per­cent. There were fears of an im­me­di­ate hike in fuel prices yes­ter­day as the ex­cise duty on diesel and petrol rose by seven and 6,7 per­cent re­spec­tively.

Fi­nance and Eco­nomic Devel­op­ment Min­is­ter Pro­fes­sor Mthuli Ncube an­nounced the in­crease in the 2019 Na­tional Bud­get State­ment a fort­night ago. A snap sur­vey yes­ter­day showed that fuel sta­tions that were dis­pens­ing petroleum prod­ucts had not in­creased prices. None­the­less, Gov­ern­ment an­nounced that it has since re­leased $60 mil­lion for the pro­cure­ment of fuel, and as­sured the na­tion that the sit­u­a­tion was un­der con­trol. — Harare Bureau.

Newspapers in English

Newspapers from Zimbabwe

© PressReader. All rights reserved.