Fuel prices continue to drop

By Bruce Zvandasara

Motorists have applauded President Emmerson Mnangagwa’s new dispensation for the continued downward review of fuel prices.

A week ago, Government through the Zimbabwe Energy Regulatory Authority (ZERA) ordered fuel retailers to slash down pump price from $1.43 petrol to $1.38 and $1.35 to $1.33 and for petrol and diesel respectively.

Today motorists woke up to good news as fuel pump price further plummeted  with petrol now  costing $1.37 and diesel selling at $1.32 at pump price.

A survey at most fuel stations in Harare has indicated that retailers have all effected the new pump prices. .

Recently, Minister of Energy and Power Development told the nation that the country has secured a deal with a London based oil giant Germcorp which will deliver about a billion litres of fuel in the country for 18 months. The deal is expected to see fuel queues which had become an eyesore would disappear.

Last week the minister told the media that fuel shortages had normalised and the market will be flooded by the precious commodity after weeks of scarcity which was sparked by panic buying and hoarding. However, he warned that prices have normalised and they will go hand in glove with the international status quo of oil prices.

Minister Gumbo today told this publication that the fuel prices will not remain fixed as they can be affected by the commodity’s international pricing.