MINISTER SLAMS PANIC BUYERS

Energy minister, Jorum Gumbo says panic buying motorists are causing to the current fuel shortages.

 “At our Masasa and Mabvuku depots there is enough fuel and pumping is ongoing from Beira. We need 2,5 million litres of diesel a day and 1,5 million litres of petrol; we are able to meet those figures.

“The panic buying should not be expected as there is no need for that. There are also fears that the new 2c tax (on electronic transfers) could be contributing as people think that the price of fuel will shoot through the roof and people are hoarding.

“The sporadic fuel stock-out at service stations are being caused by a number of factors that include foreign currency shortages and panic buying by motorists, resulting from false social media messages.


“Once oil companies get the foreign currency from the Reserve Bank, they have to plan for the logistics of getting the fuel to their service stations and that at times causes delays at service stations far from Harare.

“Also, international oil prices are rising and that means that the foreign currency the RBZ allocates to fuel companies that is around $20 million — amounting to 80 million litres a month — is no longer adequate.

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