Business Reporter
FINANCE Minister Mthuli Ncube has once again presented a high sounding statement on fuel price cuts which will not deliver ay reprieve for the members of the public as prices have remained unchanged.
Ncube said taxes summing up to US$0,54 per litre saying the retail price of diesel would have risen US$ 2,65 per litre.
“This measure reflects Government’s commitment to protecting both consumers and productive sectors from external shocks, while safeguarding macro-economic stability,” said Ncube.
The new diesel price is US$2,11 while the ZiG price is 53,60, with Blend is US$2,23 or ZiG 56,70.
Prof Ncube said the Government is making a deliberate fiscal sacrifice to prioritise economic stability and citizens’ welfare over short-term revenue.
“This measure underscores the Second Republic’s responsive and people-centred approach to economic management, as well as its commitment to ensuring that every Zimbabwean is cautioned against the impact of the current global economic headwinds,” said Prof Ncube.
He added that the Government will continue monitoring global developments and may take further action if necessary to ensure fuel availability and economic protection.
A notice of petroleum prices for April from the Zimbabwe Energy Regulatory Authority (ZERA) said the Government, through the regulator, continues to monitor the security of supply of petroleum products in the market.
In that regard, Government said there are enough stocks of petroleum products in the supply chain, starting from Beira and inland storage facilities with more than three months’ supply cover.
“Working with oil traders, the Government is opening up supply routes not affected by the current conflict in the Middle East.
“However, while Government ensures security of fuel supply, ZERA notices that the cost pressures are piling up and these require that prices be reviewed for two weeks to avoid fuel shortages and arbitrage,” reads the statement.
