Fuel prices up, as govt increases strategic reserve levy

Fuel price goes up by US$ 0.04 as government increases strategic reserve levy by 323%.

This follows a notice issued by Minister of Finance and Economic Development, Mthuli Ncube recently.

Strategic reserve levy charged on all fuel imports, is now US$0,127/L of diesel & US$0.087/L of petrol from US$0,03/L for both petrol & diesel.

Apparently, in Zimbabwe prices of fuel have a strong bearing on the general prices of commodities.

However, the recent margins of fuel price hikes are relatively low, hence no huge impact on prices of commodities in general.

Zwnews