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THE consumption of diesel and petrol plunged by almost 1,5 million litres and 1,8 million litres per day respectively between January and February this year, compared to previous months on the back of price adjustments and the impact of the Monetary Policy Statement that ushered in a number of far-reaching measures.
The reduction has seen the country making huge savings in foreign currency at a time the economy is facing a crippling shortage of hard currency that has seen it failing to sufficiently import other essential commodities including fuel and medical drugs.
The Government increased the price of petrol and diesel on January 12 this year to RTGS$3,31 and RTGS$3,11, respectively, a move that curtailed non-productive movements by motorists.
Before the upward adjustment, the country consumed 4,7 million litres of diesel and 3,8 million litres for petrol per day respectively — most of which was for luxury and speculative purposes.
ALL SHARE
The All Share index finished the week 1.03 points 0,85 percent stronger at 121.66 points. Gains were recorded in Econet which was $0,0828 up at $1,0833, Old Mutual Limited added another $0,0810 to settle at $7,9780 while OK Zimbabwe closed $0,0025 firmer at $0,2035. The other counter to strengthen was SeedCo which rose by $0,0007 to close at $1,4300.
Trading on the downside was Delta which dipped $0,0080 to $2,2500, Axia shed $0,0043 to settle at $0,3505 and SeedCo International Limited was $0,0025 weaker at $1,3025. Other counters to lose ground include Cassava Smartech and Truworths which lost $0,0002 apeace to close at $1,0003 and $0,0160 correspondingly.
derick.khumalo