Zim govt to go after companies that have hiked fuel prices

Zimbabwe’s government has said it will go after companies that have hiked fuel to $7.

In the 18th cabinet briefing, the government gave this update:

Cabinet has resolved that it is unacceptable to sell fuel at as high as $7 per litre. Minister @fortunechasi has met players and warned them that this behaviour is not acceptable and @zeraenergy will be out in full force enforcing the law

Energy and Power Development Fortune Chasi added

It is unacceptable for fuel players to insist on USD payments only. That is not compliant with their licences. Remedial action will be taken..”

The Zimbabwe Energy Regulatory Authority has said no price adjustments were approved while Finance and Economic Development Permanent Secretary George Guvamatanga echoed the sentiments adding that a discussion had been had

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Zimbabwe has had crippling fuel shortages for the two years. The recent abandonment of the Since January, the fuel price has gone up by close to 400%.