Zimbabwe Bound to Stay Trapped in Fuel Price Spiral

Zimbabwe could be trapped in a fuel price spiral as neither an improvement in the exchange rate nor a significant decline in international crude oil price is anywhere near the horizon.

Analysts said movements in the oil price and exchange rate are having a significant impact on the commodity’s price in the country — and the Zimbabwe dollar — the world’s weakest and worst performing currency, was adding its weight to the fuel price hikes.

Fuel is now only available on a quasi-official market and the black market where private players import after having accessed foreign currency on the parallel market.
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