US-Iran Tensions Pushing Up Fuel Prices – ZERA

Zimbabwe Energy Regulatory Authority acting chief executive officer, Eddington Mazambani said that the recent upward movement in the global price of fuel is attributable to the tension between the United States of America and the Islamic Republic of Iran.

There has of late been a significant number of oil tankers being seized in the Strait of Homuz resulting in disruptions in the movement of oil.

Addressing the media on the recent shortages of fuel on the local market, Mazambani said:

Another thing that I need to mention is that price of fuel is going up internationally, there are issues to do with Iran and the USA, there are tankers that are being seized within the high seas thus affecting the availability of fuel internationally, thereby affecting the price.

The ZERA official also commented on the issue of fuel coupons.

He revealed that fuel dealers were now issuing out coupons based on monetary value and not quantity. Said Mazambani:

This was after they suffered huge losses in January this year when they were forced to honour face value of coupons in terms of quantities when Government adjusted prices of fuel.

Some of them wanted to rate the coupons but we then said you have to honour the literage.

I am still to find those still operating in quantity because it becomes risky.

More: The Herald


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