Story by Owen Mandovha
GOVERNMENT has reaffirmed its commitment to cushioning the economy from volatility in global fuel prices, as tensions in the Middle East continue to disrupt oil supply chains.
Zimbabweans saw another fuel price adjustment on Thursday, reflecting sustained pressure from external market forces.
“These are fundamentally external factors, and as a country we are at a price take unfortunately hence these fuel hikes,” Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube said.
Treasury’s immediate focus is to limit the ripple effects of rising fuel costs across the economy, particularly on industry.
“If we had not intervened for example diesel could have been trading at over 220 per litre but we are cognisant of the fact that diesel is the biggest cost driver for industry so Government did not effect the extent of full increase, but we will however, seek to look at how best can we reduce other levies on fuel prices,” Professor Ncube said.
Authorities say fuel supply routes remain intact, ensuring continued availability despite the challenging global environment.
