Zimbabwe has 30 days of fuel leftChristian Fernsby ▼ | May 10, 2019
Zimbabwe is trudging towards a major fuel crisis after Energy Minister Joram Gumbo, revealed the country has less than a month’s supply of the precious liquid.
Africa "Our consumption is 2 million litres of petrol per day"
“Our consumption is 2 million litres of petrol per day and we have a month’s supply at the bonded warehouse in Msasa.
“As for diesel, we have stocks that can last the next 23 days. But pumping is going on at Beira there are ships there now,” said Gumbo.
The Energy Minister however appealed for more foreign currency from treasury.
“But we need to have more foreign currency available to allow them to import fuel,” said Gumbo.
Reserve Bank Governor (RBZ), John Mangudya early this year said most of the fuel being imported into Zimbabwe is imported using financial instruments created specifically for bulk imports known as letters of credit (LCs).
According to Mangudya, the LCs are being been guaranteed by the African Export and Import Bank but the country continues to struggle with fuel supplies with queues almost everywhere. ■