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Zimbabwe consumes between 120 and 140 million liters of fuel per month and requires a monthly allocation of $ 100 million (1.38 billion rand).
Presenting his 2019 budget last week, Mr. Ncube said the government would seek to increase excise duties by 7 cents per liter on diesel and paraffin and by 6.5 cents on gasoline for reduce arbitrage opportunities.
This means that as of December 1, the price of fuel will increase.
At the same time, motorists hope to regain their Christmas cheer by anticipating a substantial drop in the price of gas that should come into effect on December 5, if the predictions of the Automobile (AA) materialize.
"Mbadive reductions in fuel prices are expected for December, but they could be mitigated by adjustments to the retail and wholesale margin, and by the possible maintenance of the slate tax," said AA on Wednesday, commenting on the unverified data on the price of fuel at the end of the month. published by the Central Energy Fund (CEF).
"The good news is a likely reduction in the price of gasoline from 1.85 euro per liter, with a diesel reduction of 1.40 euro and an illuminated paraffin reduction of 1.28.
The SA's CEF will announce the next fuel price adjustment for December this Friday, November 28th.
"With these expected declines, fuel prices will return to levels seen around the middle of 2018," said AA.
"These mbadive declines result from a combination of significant declines in international oil prices and a slightly firmer rand, which has tightened further against the US dollar since its most recent peak hit early." September near the R15,50 of the greenback. "
However, the badociation says it is possible that all these decreases do not affect the motorist.
"April, September and November saw adjustments to various taxes included in the fuel price structure. The December adjustment is due to, among other things, wholesale and retail margins, which could reduce some of the decline. Last year, adjustments to these numbers were less than five cents per liter, "says AA. "There is also the issue of the slate tax that may or may not be retained."
The slate tax is used to offset losses from under-recovering fuel prices when cumulative gasoline and diesel balances exceed 250 million rand. At the end of September, the negative balance amounted to R2,2 billion, which was apparently offset by the imposition of a slate tax of 21.92 cents in November.
"If the slate levy has reduced the slate balance below the threshold by the end of November, it is likely to be reset. Otherwise, another levy will be applied for December, offsetting part of the drop in fuel prices, said AA.
Despite this, the badociation predicts that motorists will still experience a substantial decline.
"The skyrocketing price of fuel over the past year has shown how the impact of international oil prices and the exchange rate between the rand and the US dollar is affecting lives. ordinary. The fuel pricing outlook for 2019 remains uncertain, but we hope that some stability will come back. "
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