Fuel Prices Fall in South Africa, Zimbabweans in Suspense!
Meanwhile, as the South African economy benefits from a significant drop in fuel prices, Zimbabweans are left in suspense, awaiting the impacts of the central bank’s recent currency devaluation.
Starting October 2, South African motorists will enjoy the lowest fuel prices in over two and a half years, with the retail price of 95-octane gasoline in Gauteng set to decrease to 21.05 rand (approximately $1.23) per liter.
This marks an 18% decline compared to October 2023 and is the fifth consecutive month of price cuts. Consumers will see reductions of R1.06 per liter for 93 unleaded petrol, R1.14 for 95 unleaded, and similar cuts for diesel and illuminating paraffin, providing much-needed relief for households and businesses alike.
In contrast, Zimbabweans are on edge as they await the consequences of the Reserve Bank of Zimbabwe’s recent decision to devalue the local currency. Central Bank Governor Dr John Mushayavanhu stated that he was convinced that the measures will go a long way in addressing the emerging exchange rate risks, anchor inflation expectations, and stabilize prices in the near to short term.
Many citizens are however concerned about how this move will affect their daily lives, particularly as the prices of imported goods, including fuel, are likely to rise. With inflation already a pressing issue, there are fears that the devaluation could further erode purchasing power, especially for those relying on fixed incomes.
