Energy Minister Dismisses Fuel Price Increase Reports

Minister of Energy and Power Development Joram Gumbo yesterday dismissed reports circulating on social media that fuel prices will increase.

The reports claimed that fuel industry stakeholders and the Reserve Bank of Zimbabwe (RBZ) met and agreed to increase the price of petrol to $5,50 from $3,30 and of diesel to $5,15 from $3,10. In a statement, Gumbo said Government was not planning to increase fuel prices anytime soon. Said Gumbo:

There are statements circulating on social media alleging that fuel prices are going to increase to $5,50 for petrol and $5,15 for diesel. These statements are false. I would therefore like to dispel these rumours. According to the statement circulating on social media, a closed door meeting was held between fuel stakeholders and the RBZ. The ministry would like to assure the general public that no such meeting was ever held and no plans to increase fuel were ever considered. The RBZ Governor Dr John Mangudya in his monetary statement indicated that foreign currency requirements for Government expenditure and other essential commodities that include fuel, cooking oil, electricity, medicines, and water chemicals shall continue to be made available through the existing letters of credit facilities and the Foreign Exchange Allocations Committee.


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Joram GumboJohn MangudyaReserve Bank of Zimbabwe

Jorum Macdonald Gumbo is a Zimbabwean politician who is a member of the ZANU-PF party. Gumbo is the former Minister of Energy and Power Development. He was replaced by Fortune Chasi in May 2019. He is the Member of parliament for Mberengwa West Constituency. Gumbo... Read More About Joram Gumbo

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

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Energy Minister Dismisses Fuel Price Increase Reports