Home
FacebookTwitterSearchMenu
  • Subscribe
  • Subscribe
  • News
  • Features
  • Knowledge Library
  • Columns
  • Customs
  • Jobs
  • Directory
  • FX Rates
  • Contact us
    • Contact us
    • About Us
    • Advertise
    • Send us news
    • Editorial Guidelines
Economy
Domestic

Zim fuel prices double as economy limps along

14 Jan 2019 - by Staff reporter
0 Comments

Share

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • E-mail
  • Print

Zimbabwe’s economy appeared for all intents and purposes to be on the ropes as President Emerson Mnangagwa, resolute but clearly concerned, addressed media at State House in Harare to announce that the petrol price would double from $1.38 and $1.43 to $3.11 and $3.31 for diesel and petrol respectively.

The announcement is said to have come as no surprise as the country has struggled with its fuel supply since last year.

With queues snaking down roads and some pumps running dry, the price increases are intended to curtail demand as supply remains strained.

In the meantime the weakened economy is limping along, fragilely supported by a bond note base that’s pegged to the dollar but incapable of dealing with inflationary pressures that have long haunted the country’s commercial concerns.

Flanked by a number of his ministers, Mnangagwa warned private companies against exploiting the fuel crisis.

He indicated that the steep price increase should be seen as a sure sign by government to steady a fuel-starved market that was increasingly falling prey to the whims and desperation of an exploitative private sector and a displeased citizenry.

He promised that the country would have a new currency before the end of the year and that Zimbabweans could expect an economic turnaround.

But critics warned it wouldn’t take long before Sunday’s price hikes took effect and when they did, widespread civil unrest could ensue.

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.
Subscribe to receive print copies of Freight News Features to your door.

Shipyard turns to humanoids to sail ahead

Logistics

This move is seen as a significant step in the industry’s push towards automation.

08 May 2025
0 Comments

AD Ports group signs Suez Canal deal

Imports and Exports

The company has committed $120 million for the initial development and feasibility studies.

08 May 2025
0 Comments

Drones strike Port Sudan

Imports and Exports

The city’s port and airport precinct have been targeted in the attacks over the past four days.

08 May 2025
0 Comments

RFA Convention to spotlight freight solutions

Logistics

Transport sector leaders will focus on resolving burning issues facing the industry at the upcoming conference.

07 May 2025
0 Comments

Sea freight under fire from trade war

Sea Freight

The outlook for container shipping was even more uncertain now than it was at the onset of the Covid virus.

 

07 May 2025
0 Comments

Illicit trade hits South Africa’s state capture-eroded fiscus hard

Economy
07 May 2025
0 Comments

Danish line rolls out IoT platform

Sea Freight

Maersk has implemented a new digital connectivity platform aboard its fleet for cargo tracking.

07 May 2025
0 Comments

Vietnam US exports surge as ‘conduit cargo’ from China floods in

Imports and Exports

US trade officials have repeatedly warned Vietnam to crack down on transshipment practices.

07 May 2025
0 Comments

Gemini consistently more punctual – Sea-Intelligence

Sea Freight

The platform reports Gemini’s all arrivals (AA) rate for the first quarter of 2025 as 90.3% and 85.7% for trade.

07 May 2025
0 Comments

US holds fire on Red Sea rebels after Oman-brokered talks

Sea Freight

The Houthis reportedly informed the US administration that they “don’t want to fight anymore."

07 May 2025
0 Comments

Feri certificate provider expands services westward

Logistics

Dornay Swartz, projects manager at Africa Union Cargo Namibia, says work in the DRC paved the company’s way in West Africa. 

06 May 2025
0 Comments

Proactive prevention is a win-win

Logistics

Siva Pather, managing director of Land and Sea Risk, says the real challenge extended far beyond the criminal incidents.

06 May 2025
0 Comments
  • More

FeatureClick to view

Sea Freight May 2025

Border Beat

Fuel-crime curbing causes tanker build-up at Moz border
08 May 2025
Border police turn the tide on illegal crossings
29 Apr 2025
BMA officials arrested for enabling illegal immigration
24 Apr 2025
More

Featured Jobs

New

Transport Clerk (DBN)

Tiger Recruitment
Durban (New Germany)
09 May
New

Operations’ Coordinator

Brinks Security PTY LTD
Johannesburg
09 May
More Jobs
  • © Now Media
  • Privacy Policy
  • Freight News RSS
  • About Us
  • Advertise
  • Send us news
  • Contact us