LPG shortages due to forex: Zera

THE Zimbabwe Energy Regulatory Authority (Zera) says the obtaining foreign currency challenges are to blame for the shortages in liquefied petroleum gas (LPG) at a time its consumption is on the increase countrywide.

This has also resulted in increases in its price with some dealers demanding up to $7 per kilogramme from $2,50 last month.

Since October, there have been supply gaps in the energy source, resulting in queues forming in some service stations still selling the commodity at relatively low prices.

When available at selected official service stations, LPG costs now averages $3,30 per kilogramme. Other dealers are selling the commodity at higher prices, that makes it expensive especially for low income earning households that rely on it as an energy source due to its perceived cheaper cost, as opposed to electricity.

ALL SHARE

The All Share index closed the week in red after losing 0.79 points (0,49 percent) to close at 160.40 points. Innscor dropped further by $0,0496 to close at $1,9000, Econet decreased by $0,0362 to $1,7648 and First Mutual Limited was $0,0101 lower at $0,1474. Padenga also lost $0,0333 to $0,9467 and First Capital Bank was $0,0001 down at $0,0671.

Trading in the positive was Old Mutual Limited which added $0,0634 to $8,1742, Meikles gained $0,02 to end at $0,53 and Delta traded $0,0051 higher at $3,29. AXIA also increased by $0,0010 to settle at $0,4510 and RTG was $0,0008 firmer at $0,0200.