News / National
Zimbabwe plans fuel supply and price measures to stabilise market
3 hrs ago |
115 Views
The Government says it will soon announce additional measures aimed at ensuring a steady supply of fuel while keeping pump prices stable, in a bid to prevent further increases in the cost of living.
Finance and Economic Development Minister Mthuli Ncube said the focus has shifted beyond price control to guaranteeing consistent fuel availability across the country.
He said Cabinet has already approved a review of selected, time-bound fuel taxes as part of efforts to ease inflationary pressure and protect consumers from global supply shocks linked to geopolitical tensions affecting energy markets.
Authorities are also considering increasing ethanol blending in petrol from E5 to E20, a move expected to reduce fuel prices by about US$0,18 per litre.
"We are using the blending aspect… from E5 to E20 and we believe that alone will reduce the price," Ncube said, adding that discussions with ethanol suppliers are ongoing.
The minister said government is maintaining close engagement with fuel suppliers to ensure uninterrupted supply.
"This is about price containment, but also making sure there is adequate supply," he said.
Currently, petrol is priced at around US$2,17 per litre, following recent increases.
The developments come amid broader global fuel market volatility, with several countries experiencing pressure on energy supplies due to disruptions linked to international conflicts affecting oil flows.
In the region, South Africa has warned of potential sharp fuel price increases, while island states such as Mauritius have reported declining fuel stocks due to delayed shipments, highlighting the wider ripple effects of global supply constraints.
The Competition Commission of South Africa has also cautioned fuel suppliers against unlawful price manipulation, warning of enforcement action against any unfair pricing practices.
Government says further policy announcements will be made soon as it continues to refine its fuel stabilisation strategy.
Finance and Economic Development Minister Mthuli Ncube said the focus has shifted beyond price control to guaranteeing consistent fuel availability across the country.
He said Cabinet has already approved a review of selected, time-bound fuel taxes as part of efforts to ease inflationary pressure and protect consumers from global supply shocks linked to geopolitical tensions affecting energy markets.
Authorities are also considering increasing ethanol blending in petrol from E5 to E20, a move expected to reduce fuel prices by about US$0,18 per litre.
"We are using the blending aspect… from E5 to E20 and we believe that alone will reduce the price," Ncube said, adding that discussions with ethanol suppliers are ongoing.
The minister said government is maintaining close engagement with fuel suppliers to ensure uninterrupted supply.
Currently, petrol is priced at around US$2,17 per litre, following recent increases.
The developments come amid broader global fuel market volatility, with several countries experiencing pressure on energy supplies due to disruptions linked to international conflicts affecting oil flows.
In the region, South Africa has warned of potential sharp fuel price increases, while island states such as Mauritius have reported declining fuel stocks due to delayed shipments, highlighting the wider ripple effects of global supply constraints.
The Competition Commission of South Africa has also cautioned fuel suppliers against unlawful price manipulation, warning of enforcement action against any unfair pricing practices.
Government says further policy announcements will be made soon as it continues to refine its fuel stabilisation strategy.
Source - The Chronicle
Join the discussion
Loading comments…
