'There is no fuel crisis in Zimbabwe' - Reserve Bank governor

2018-09-06 06:00


Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

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.

In an interview with the state-owned Chronicle newspaper, 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.

* Sign up to News24's top Africa news in your inbox: SUBSCRIBE TO THE HELLO AFRICA NEWSLETTER

FOLLOW News24 Africa on Twitter and Facebook

Read more on:    robert mugabe  |  emmerson mnangagwa  |  zimbabwe  |  southern africa

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.