Government reduces duty on diesel and petrol

Government has reduced import duty on diesel and petrol in an effort to avoid further fuel increases. 

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Government has reduced import duty on diesel and petrol in an effort to avoid further fuel increases.

In an interview, Permanent Secretary in the Ministry of Finance and Economic Development George Guvamatanga said duty on petrol and diesel had been reduced from $2.05 and $2.30 to $1.15 and $0.90.

Government has reduced duty on petrol and diesel.

“As you might be aware, previous duties were $2.30 for petrol and $2.05 for diesel, it has now been reduced to 90c for diesel and $1.15 for petrol,” he said.

Guvamatanga said this was done to cushion the public from fuel price increases.

“This has been done in order to ensure that we cushion the public from an increase in the price of fuel,” he said.

Zimbabwe Electricity Regulatory Authority announced an upward reviewed of petrol and diesel prices after the government removed the 1:1 foreign currency exchange rate for the procurement of fuel by Oil Marketing Companies (OMCs),