‘There is no fuel crisis in Zimbabwe’ – Reserve Bank governor 

‘There is no fuel crisis in Zimbabwe’ – Reserve Bank governor 

Zimbabwe’s reserve bank governor John Mangudya, has reportedly assured Zimbabweans that there is “no fuel crisis” in the Southern African nation – a day after motorists found many fuel stations in the country without fuel.

Source: ‘There is no fuel crisis in Zimbabwe’ – Reserve Bank governor | News24

 

In an interview with the state-owned Chroniclenewspaper, the head of the Reserve Bank of Zimbabwe, who was in Beijing, China, said he had allocated enough fuel to the country’s main depot in Harare.

“There cannot be a crisis because we allocated enough fuel for the week. Since I am not around, I can only assume that suppliers may have had logistical challenges collecting fuel from Msasa Depot (in Harare) for them to distribute countrywide.”

In May, the government increased fuel funds from $10m to $20m per week as it tried to curb fuel shortages.

A survey by The Chronicle showed that only diesel was available at some of the fuel stations and that Total only allowed people to fill up if they had Total cards or cash.

The fuel shortages have since driven black market prices to at least $2 a litre compared to the average station prices of $1.44 for petrol and $1.31 for diesel, the report said.

According to Sunday Mail, fuel consumption in Zimbabwe increased by 24% to 752 million litres in the first six months of 2018.

The increased fuel consumption was a result of increased economic activity, which was reportedly driven by new industrial investments since President Emmerson Mnangagwa took over from former president Robert Mugabe last year.

Industries in Zimbabwe account for 60% of diesel consumption alone.

The reserve bank was planning to increase the allocation of capital to $100m per month in November.

COMMENTS

WORDPRESS: 2
  • comment-avatar
    Brian 2 years ago

    This not correct. We are large fuel trading company and operate several Fuel stations throughout the country.

    We have not received any Foreign Currency allocation for the last six weeks. We will start shutting down fuel stations next week as the last of our reserves dry up…. Better go fill containers!

  • comment-avatar
    Cant Rigg Economy 2 years ago

    This Old,rotten and recycled crop of partisan governers whose approaches to crisis management are premised on a waxed foundation of lies are the reason why our economy will never heal up.His defination of crises seems to have so many missing words,because surely you cant say there is no crises when the whole country is on a stand still on fuel,what ever it is that caused whatever delay he alegies, togather with him constitute a crisis.We are tired of tollerating such truth defficient statements especialy from people we already know have a chronic deasese of lying.Mr Governor We have a crisis in Zimbababwe and you are one of the push factors and a cog that is spinning the wheel of this Crisis,in short you are the defination of crisis and your statement is an explanation of that