MOTORISTS in Bulawayo are shunning service stations which
sell fuel in foreign currency and opting to fill their tanks from those
charging in local currency as the exchange rate continues to shoot through the
roof on the parallel market.
Service stations selling in local currency are now three
times cheaper than those charging in foreign currency, forcing some forex
service stations to reduce their prices.
As of yesterday, the exchange rate at the parallel market
was US$1:ZW$60 via electronic transfers and US$1:45 for cash transactions.
At selected service stations visited by a Chronicle news
crew, forex fuel stations were selling petrol for between US$1,05 and US$1,25
while diesel was going for between US$1 and US$1,13. Those trading in local
currency were charging between $21,76 and $23,30 for petrol while diesel was
being sold for $21,59 and $22,55.
Our news crew observed yesterday that there were long
winding queues at most service stations selling the commodity in local
currency.
However, service stations that sold in forex only had few
vehicles waiting for service. Some of the forex service stations had no cars at
all.
Motorists who spoke to Chronicle said they could not afford
to buy fuel at forex service stations. They said due to the skyrocketing rates,
it was cheaper to buy from filling stations selling in domestic currency.
“I don’t earn foreign currency and equally I don’t have
money to buy forex because of the ridiculous rates. Whatever forex that is in
my purse, I am reserving it for emergency situations such as medications and
other pertinent issues, but certainly not to buy fuel,” said Ms Sekai Ncube.
“I would rather sleep in the queue to buy fuel from service
stations that sell in local currency because that is what I can afford.”
Another motorist, Mr Peter Ncube, who was in a queue at a
service station in the central business district, said he shunned fuel from
services stations selling in foreign currency because of the escalating
exchange rates. He said it was economically prudent to buy fuel in local
currency despite the hassles associated with meandering and often chaotic queues.
“I used to buy fuel from forex garages because it was
cheaper when compared to the local currency ones, but now it is the opposite. I
think it is now worth queuing at service stations selling in Zimbabwean
dollars,” he said.
Mr Ncube said some attendants at fuel stations selling in
local currency were selling the commodity on the black market at either
inflated prices or forex through third parties.
Mr Pamenus Tuso weighed in: “I have stopped fuelling my car
at service stations charging in foreign currency because it has proved to be
more expensive, which is why you find less cars at forex services stations.”
An attendant at a service station in Belmont said they were
forced to reduce fuel prices in forex as a way of trying to lure back motorists
who are shunning their services.
“We used to sell petrol for US$1,33 before the rates
started escalating and we used to get more clients, but lately it has been
tough and we are not getting many clients. We have reduced to US$1,05 hoping we
will reclaim our clients,” said the attendant
“On a normal day we use four pumps each for diesel and
petrol but because of a sharp decline in the number of cars, we are now only
using one pump for petrol and one pump for diesel.”
According to Zimbabwe Energy Regulatory Authority (Zera),
the latest maximum price of petrol is $21 and $20,84 for diesel.
Zera reduced the price of petrol and diesel by 77 cents and
68 cents respectively owing to a fall in Free on Board (FOB) prices and the
revised duty regime.
Prior to the review, the price of petrol was pegged at
$21,77 while diesel was at $21, 52 per litre. Chronicle
0 comments:
Post a Comment