Zimbabwe government to review fuel price

Government is conducting a petroleum sector pricing study and working on policy measures to address the imbalances in the fuel market.

Speaking in the Senate recently, Energy and Power Development deputy minister Tsitsi Muzenda said when reviewing the fuel price, the maximum Free-On-Board fuel prices would now be based on the lower of the two between the Arab Gulf and Mediterranean markets instead of an average.

She said government was also working on the removal of the wholesalers' storage and handling costs of $0,015/litre as the majority of companies were utilizing the storage facilities operated by National Oil Infrastructure Company and, therefore, not incurring an additional storage to warrant it.