RTGS$ slides by 31 percent on interbank market after fuel sector shake-up

RTGS$ slides by 31 percent on interbank market after fuel sector shake-up 1

HARARE – Traders at three commercial banks said the RTGS$ had weakened to a low of 4.6 against the greenback compared to 3.5 at the opening of trading on Tuesday, its biggest drop in a day since the interbank market was launched on February 22. The plunge came a day after the central bank effectively removed a subsidy by ending oil importers’ access to U.S. dollars at a favourable rate, triggering a second sharp rise in fuel prices inside four months. The Zimbabwe Energy Regulatory Authority (ZERA) said in a…

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Kombis hike fares AGAIN

Kombis hike fares AGAIN 3

By Shalom Manguni Fuel shortages in Harare this week triggered a wave of fare hikes by the fewer kombis on the roads. Commuters have been spending hours waiting for transport, especially after hours as public transporters are withdrawing vehicles early to either look for fuel or reserve it for the morning rush hour. There have been long queues, dominated by kombis, at various service stations in the capital this week. Kombi fares have at least doubled as operators with fuel cash in on the demand for public transport. Related Articles…

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Fuel queues ease after price rise

Fuel queues ease after price rise 4

By Caroline Chiimba Long fuel queues were once among the most common sights on Zimbabwe’s busy streets, but the snaking lines of cars waiting to refuel have disappeared in the past week following a 150 percent price hike. Motorists wait to fill up their tanks at a fuel station in Harare, Tuesday, Oct, 9, 2018. As Zimbabwe plunges into its worst economic crisis in a decade, gas lines are snaking for hours, prices are spiking and residents goggle as the new government insists that the country somehow has risen to middle…

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Khaya Moyo challenges authorities to sort fuel coupons mess

Khaya Moyo challenges authorities to sort fuel coupons mess 5

ZANU PF national spokesperson Simon Khaya Moyo yesterday implored authorities to address the recent rebasing of fuel coupons after massive fuel hikes announced by President Emmerson Mnangagwa, adding the matter was a cause for concern. BY OBEY MANAYITI Redan, on January 13, issued a statement saying it had reduced, for example, 20 litres of fuel coupons to eight litres and 200 litres to 80 litres after the price hikes, saying it was necessitated by the price hikes. This added to the public anger, resulting in violent protests in Harare, Bulawayo…

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Price hikes fail to end fuel crisis

Price hikes fail to end fuel crisis 7

There is no immediate relief for motorists and transport operators despite government’s shocking fuel hikes as long and winding queues continue to stalk several garages which are struggling to stock the much-sought products. In this photo taken on Friday Dec, 21, 2018, a driver takes a nap with his feet sticking out of the car while in a fuel queue in Harare. The Christmas lights are up in Zimbabwe’s capital but the mood is less than festive as the country grapples with an economic crisis that prevents many families from…

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Grand fuel heist in Zimbabwe?

Grand fuel heist in Zimbabwe? 8

Zimbabwe consumed almost 480 million more litres of petrol and diesel in six months between June and November last year than in the same period in 2017, a gargantuan 77 percent extra, at an additional foreign currency cost of more than US$200 million. A fuel attendant fills drums at a service station in Belvedere. There have been cases of fuel being diverted to the black market. — (Picture by Shelton Muchena) It is not known as of now who used the extra fuel and for what. Figures released by the…

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Fuel price goes down

Fuel price goes down 9

On Jan 9, 2019 23,564 5 By Nokuthaba Nkomo Fuel prices have slightly gone down despite persistent shortages being experienced throughout the country. Diesel was previously $1,34 per litre and is now at $1,25 while petrol which was $1,38 now costs $1,32 per litre. The free on board (FOB) charge for diesel is 0,5434 per litre while petrol is 0,4726. In a statement the Zimbabwe Energy Regulatory Authority (Zera) said the prices which were implemented recently were in line with the Statutory Instruments enacted in 2015. Zera, however, notified members…

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MPs bemoan queuing for fuel coupons

MPs bemoan queuing for fuel coupons 10

By Nokuthaba Nkomo Members of Parliament (MPs) have complained that they are going through demeaning conditions as they have to queue for fuel coupons. Zanu PF’s Chegutu West legislator Dexter Nduna (left) Zanu PF Chegutu West MP Dexter Nduna said Parliament should computerise their revenue generating and distributing mechanisms as getting coupons manually is a hustle for legislators. Nduna suggested that fuel money should be injected into their accounts so that the 270 MPs do not have to queue for coupons every Thursday. Related Articles “We have about 270 Members…

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Illegal fuel dealers flood Zimbabwe

Illegal fuel dealers flood Zimbabwe 11

By Blessings Mashaya With two 20-litre jerry cans filled with petrol, Musa ducks traffic along Samora Machel Avenue, one of the biggest roads in Harare’s central business district. A motorist refuels at a dealer along Nketa Drive in Nketa in December 2017. Despite danger posed to property by keeping drums of fuels inside houses, some people continue doing so. He gets into his battered truck and zig-zags his way to somewhere before he re-merges a few minutes later with nothing in his containers. Musa is one of the fuel dealers who…

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Bus fares up 100% in Zimbabwe

Bus fares up 100% in Zimbabwe 12

By Nqobile Tshili Long distance bus operators have increased their fares by up to 100 percent, with most attributing the hikes to fuel shortages that are forcing them to buy it on the black market. ExtraCity Buses Operators said yesterday that the hikes have nothing to do with the festive season. They however said they were not ruling out further increases as from the weekend as more people start travelling to various destinations for the Christmas holidays. Buses that ply the Bulawayo-Nkayi route have increased their fares from an average…

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