Zera Speaks on diesel supply

Business Top Stories Zimbabwe

Kimberleigh Jiro

The Zimbabwe Energy Regulatory Authority (Zera) says it is working with Oil Marketing Companies (OMCs) to ensure that the country has sufficient fuel supplies.

Zera on Monday released a press statement on diesel supply in the country following a significant decrease of the price of the commodity on the international market.

The authority met with the oil marketing companies on February 29 to deliberate on the impact of the decrease on the local market. The OMCs made a commitment to keep supplying diesel to consumers at the new price.

Zera said surveillance on possible hoarding of fuel is underway, adding that it is working closely with the OMCs to ensure that the country has enough fuel supplies.

Zimbabwe is a net fuel importer hence any movement on the global market has an impact on the local price.

The country has been facing fuel shortages since September 2018 and fuel prices have increased rapidly due to high inflation.