Price of diesel 50 to drop

Price of diesel 50 to drop
Published: 09 February 2018 (57 Views)
THE price of diesel 50 will drop from $1,36 per litre to $1,24 per litre when government phases out diesel 500, Energy minister Simon Khaya Moyo said on Wednesday.

Responding to a question by Gokwe MP Dorothy Mhangami (Zanu-PF) on how government intended to curb arbitrary fuel price hikes, Khaya Moyo told the National Assembly that diesel 500 would be phased out this month. This would result in diesel 50 being transported into the country through pipelines.

Khaya Moyo said in the past diesel 50 could not be imported via pipeline because the storage facility was in Beira.
Diesel 500, which is being phased out, has high sulphur which pollutes the environment and damages engines, while diesel 50 is a low sulphur fuel.

The Energy ministry will amend the Petroleum Act to ensure that all fuel importers bring in diesel 50 and do away with diesel 500, which would be gradually phased out in four months from February to May 2018.

Khaya Moyo said the Zimbabwe Energy Regulatory Authority was responsible for pricing of fuel in the country and did so on a weekly basis.

"It is common for the price to increase by a cent or so each time pricing is done. It is rare for the local price to remain constant for two weeks. If there are any arbitrary fuel hikes, then these are illegal," he said.

- newsday

Tags: Diesel, Price, drop,
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