No Crises: SK Moyo speaks

khaya moyo health latest zimnewsnet

The government has assured the nation that the current fuel situation in the country is under control, hence there is no need for panic buying of the commodity.

In a statement to the ZBC News, the Minister of Energy and Power Development, Ambassador Simon Khaya Moyo, said the fuel situation in the country is a manifestation of market forces in the global petroleum market after crude oil producing nations agreed to cut on production output.

The Minister reminded the nation that there will be always adequate fuel supplies throughout the country, adding that the Zimbabwe Energy Regulatory Authority (ZERA) will continue to  monitor the market to ensure compliance to regulate prices by oil companies.

“consumers should not horde petroleum products which may result in artificial shortages. [They should] not panic as the government has strategic stock meant to cushion the nation in the event of supply challenges. The RBZ has allocated sufficient foreign currency for fuel importers,” he said, adding that ethanol production is expected to resume by the end of this month resulting in the resumption of petrol blending thus leading to a reduction in the import bill due to import substitution with the local produced ethanol.

Minister Khaya Moyo noted that there has been an increase in fuel consumption in Zimbabwe that could be attributed to an increase in economic activities in the country’s diverse productive sectors. state media