Zimbabwe petrol stations run dry due to currency shortages

Some filling stations in Zimbabwe’s capital have run out of gasoline as the country deals with currency shortages, Transport Minister Joram Gumbo said.

"When the foreign currency is eventually released, it takes some time to arrange the transport logistics to deliver the fuel to affected stations," he said in a statement handed to reporters on Wednesday in Harare.

"There are many competing demands on the available foreign currency."

Finance Minister Mthuli Ncube is preparing to announce the 2019 budget tomorrow while juggling a ballooning fiscal deficit, foreign-exchange shortages that are fuelling inflation, and an inability to raise foreign loans because of $5.6bn of debt arrears.

Zimbabwe last month signed a gasoline-supply agreement with a unit of Trafigura Beheer and is in talks with Total Zimbabwe and others about securing more.

The government accord with Sakunda will help alleviate a shortage of fuel that’s led to queues outside gas stations in Harare and other centres.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

ZAR/USD
17.69
(-0.14)
ZAR/GBP
23.12
(-0.28)
ZAR/EUR
20.76
(+0.24)
ZAR/AUD
12.65
(-0.05)
ZAR/JPY
0.17
(-0.04)
Gold
2025.89
(-0.05)
Silver
29.03
(+3.24)
Platinum
989.00
(+2.68)
Brent Crude
44.54
(0.00)
Palladium
2229.00
(+2.35)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 943 votes
It depends on how the funds are used.
74% - 6291 votes
No. We should have gotten the loan elsewhere.
15% - 1294 votes
Vote