Fuel supplies normalise

petrol_queue_harareBULAWAYO - Fuel queues that characterized most service stations before the announcement of the mid-term fiscal policy review a fortnight ago have disappeared.The city, like most parts of the country, ran out of diesel, a development that briefly saw the re-emergence of parallel market activities.(Pictured: A petrol queue in Harare before fuel

Suppliers of fuel had attributed the shortage to unspecified supply challenges.
A snap survey by The Zimbabwean revealed that the price of diesel had slightly dropped and was readily available.

In his mid-term fiscal policy statement a fortnight ago, Finance Minister, Tendai Biti reviewed excise duty on diesel from US$0, 20 to US$0,16 per litre with effect from July 17.

Economic commentator, Erich Bloch, said the reduction in the excise duty was too small and would have little effect on the overall pricing structure of goods and service in the economy.

He said some of the service stations had not yet reduced their prices since they were selling old stock and the new price structure would only be applicable to new stock.

Post published in: Economy

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