‘Govt expects fuel situation to improve soon’

The Reserve Bank of Zimbabwe has increased its weekly foreign currency allocation to the petroleum industry to $25 million as government moves in to address erratic fuel supplies.

Zimbabwe has over the past weeks experienced fuel shortages that have resulted in price increases of basic goods and commodities.

Transport Minister Joram Gumbo told Business Times that the situation is expected to improve this week.

“We have given the fuel suppliers adequate foreign currency to import fuel and what we are now doing is  tracking whats happening in Masasa and Mabvuku and we are receiving reports from Zera as to where the problem is,” Gumbo said.

” We expect the situation to start improving from today going forward. The Reserve Bank of Zimbabwe has increased the forex fuel allocation to $25 million from $20 million weekly in line with the international oil price increases.”

 Gumbo said 2,5 million litres of diesel are being imported daily while 1,5 million litres of petrol are supplied daily.