Fuel supplies set to improve

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There has been a marked improvement in the supply of fuel for domestic use to distributing companies, following the injection of $41 million forex facility by government.

It now remains to be seen whether the improvement will translate to adequate supplies of the commodity across the country.

In line with the government directive the National Oil Infrastructure Company (NOIC) has been loading fuel to distributing companies from as early as 6am today.

Fuel delivery trucks were collecting the commodity from the parastatal’s depot located in Msasa, Harare.

Clients that include locally incorporated registered oil companies collecting their deliveries, but due to the nature of the commodities that are handled at the depot, the news crew was not granted permission to film inside the depot.

The company handles various products, including diesel, petrol, jet A1, ethanol, and illuminating paraffin.

Some fuel truck drivers who were waiting to collect their deliveries confirmed off camera that there has been an improvement in supply of the commodity.

Yesterday (Friday), Energy and Power Development Minister Dr Joram Gumbo announced the Reserve Bank of Zimbabwe allocated US$41 million for the procurement of fuel through letters of credit to beneficiary companies.

The NOIC was then instructed to continuously pump fuel into the country to ensure adequate availability of the commodity.

The company is mandated with the transportation of petroleum products into the country using the petroleum pipeline from Beira in Mozambique to the NOIC depot in Msasa.

The allocation of US$41 million to companies for the procurement of fuel through letters of credit will go a long way in easing fuel shortages experienced across the country since last week.

Source – ZBC

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