Government has reiterated its commitment to cushioning the economy from the shocks of global fuel price volatility, as escalating tensions in the Middle East continue to disrupt international oil supply chains.
Zimbabweans experienced another fuel price adjustment on Thursday, a development authorities say is driven entirely by external pressures.
“These are fundamentally external factors, and as a country we are a price taker, unfortunately, hence these fuel hikes,” Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube said.
He noted that the Treasury’s immediate priority is to contain the impact of rising fuel costs on the wider economy, particularly on productive sectors.
“If we had not intervened, for example, diesel could have been trading at over US$2,20 per litre. But we are cognisant that diesel is the biggest cost driver for industry, so the Government did not affect the full extent of the increase. However, we will continue exploring ways to reduce other levies on fuel,” Professor Ncube said.
Despite the global turbulence, authorities maintain that Zimbabwe’s fuel supply routes remain secure, ensuring consistent availability across the country.
