Central Bank governor John Mangudya said that the country’s fuel consumption has gone down by 35 million litres following the January price increases.
President Emmerson Mnangagwa announced a more than 150 per cent fuel price hike on January 12, which resulted in reduced demand for the precious liquid.
While speaking before the Energy and Power development parliamentary portfolio committee on Thursday, Mangudya said:
Following the increase in fuel prices early this year, we noticed that the fuel bill and quantity bill in Zimbabwe went down. Prior to this, the nation consumed about 165 million litres of fuel per month which has now gone down to around 130 million litres.
Minister for Energy and Power Development, Joram Gumbo told the same committee that the reduction in fuel consumption is attributable to the high price and plugging of illegal fuel exports.
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
Joram Macdonald Gumbo is a Zimbabwean politician who is a member of the ZANU-PF party. Gumbo is the Minister of Energy and Power Development. He is the Member of parliament for Mberengwa West Constituency. Gumbo was re-elected in the 2018 harmonized election after getting 10... Read More About Joram Gumbo