Zimbabwe has hinted it may further reduce fuel levies to stymie a sustained spike in the domestic price of petroleum products after global prices soared on market uncertainty due to the conflict between Ukraine and Russia.
Finance and Economic Development Minister Mthuli Ncube says he started reducing levies on fuel late last year to hold local prices steady, although this was not made public.
He says however a fuel subsidy has become even more necessary amid the uncertainty in the global markets, which has seen western countries take steps to shun Russian fuel imports following its special military operation in Ukraine