Fuel stocks adequate to meet festive season demand

ENERGY and Power Development Minister Edgar Moyo says the country has adequate stocks of fuel to meet demand during the festive season at daily consumption of five million litres.

Zimbabwe consumes an average of three million litres of diesel and two million litres of petrol per day.

Due to increased travelling by members of the public during the festive season, the country needs to be adequately stocked to avoid shortages.

In an interview yesterday, Minister Moyo said the public should not panic as the country has enough fuel across all the National Oil Infrastructure Company (NOIC) depots.

“We use five million litres a day, where three million litres is diesel and two million litres is petrol.

“Indications are that we are very secure in terms of fuel supply, so people should not panic. We have stocks that can last us even beyond the festive season.

“For diesel, we have in stock currently in our NOIC depots 189,9 million litres, which covers 64 days, and for petrol, we have 71,9 million litres, which cover 36 days,” he said.

Zimbabwe imports 100 percent of its petroleum fuel requirements through pipeline, rail and road.

Over the years, the country experienced fuel shortages with some service stations going dry for weeks forcing motorists to buy the precious liquid from illegal fuel dealers who were smuggling the commodity into the country from neighbouring countries like South Africa and Botswana.

“In-tank in Beira (Mozambique), we also have 70,5 million litres of diesel and 12,5 million litres of petrol which is ready to be pumped into the country in addition to the 189,9 million litres of diesel and 71,9 litres of petrol held at our depots locally.

“In vessels which are in dock ready to offload into the tanks in Beira after the evacuation of what I have said is in-tank in Beira, we have 42,5 million litres of diesel and 27,7 million litres of petrol, so we have more than enough,” he said.

Meanwhile, the Government through the Ministry of Industry and Commerce has warned businesses against price increases during the festive season to ensure that goods are available in the retail sector.

Industry and Commerce Minister Dr Sithembiso Nyoni was quoted in some sections of the media saying the retail sector had enough stocks and her ministry would act against unjustified price hikes during the festive period.

“We have witnessed and enjoyed price stability for a very long time now, ever since the Treasury and the Reserve Bank of Zimbabwe instituted a tight monetary control regime and this must be maintained to promote consumer welfare.

“Let me assure the nation that industry has enough stocks of basic commodities and that business will immediately work on modalities to ensure that there will not be any sharp price increases,” she said.