As the oil industry in Zimbabwe absorbs the full impact of locally manufactured fuel grade ethanol from Chisumbanje, prices have began to drop. The recent price decrease is in sharp contrast to the pattern in other countries in the region, where the fuel prices have increased in response to the development in the global market.
Economist Mr Brains Muchemwa welcomed the use of blended fuel, as it was "good" for the economy: "The current account deficit at around 35 percent of GDP is not sustainable and requires such initiatives as ethanol fuel that allows Zimbabwe to improve on national savings," he said. "With cars now increasing at a rate of 35,000 per annum, compared with just around only 2,800 for the whole year in 2008, Zimbabwe will be spending more on fuel each year and a sustainable solution that conserves foreign currency is commendable," he said. Read more ...
Economist Mr Brains Muchemwa welcomed the use of blended fuel, as it was "good" for the economy: "The current account deficit at around 35 percent of GDP is not sustainable and requires such initiatives as ethanol fuel that allows Zimbabwe to improve on national savings," he said. "With cars now increasing at a rate of 35,000 per annum, compared with just around only 2,800 for the whole year in 2008, Zimbabwe will be spending more on fuel each year and a sustainable solution that conserves foreign currency is commendable," he said. Read more ...
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