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New proposed fuel prices leaked

by Mandla Ndlovu
20 May 2019 at 22:23hrs | Views
Fuel dealers and the Zimbabwe Energy Regulatory Authority are locked in talks about fuel prices, award winning journalist Hopewell Chin'ono has revealed

Dealers are reported to have stopped selling fuel after the RBZ announcement removing the 1 to 1 fixed exchange rate for fuel dealers.

In a paper circulating on social media dealers have proposed new prices of RTGS4.96 for petrol and RTGS4.88 for diesel.

Commenting on the development Professor Jonathan Moyo said, "FUELNOMICS after RBZ  ditched the 1:1 exchange rate and liberalised the interbank market. The fejafeja gymnastics won't work with forex from ponzi schemes, until there's confidence for investors & businesses to grow forex inflows through export earnings."

"The most predictable response is for the government to cut taxes on fuel. Cutting taxes will mean the fuel price doesn't go up as much as it ordinarily would have gone up. But it would hurt Mthuli's mantelpiece achievement of "budget surplus." Added  Newsday's Nqaba Matshazi.

Source - Byo24News