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Russia-Ukraine Conflict Unsettle Global Energy Markets

Russia-Ukraine Conflict Unsettle Global Energy Markets

The ongoing Russia-Ukraine conflict which has unsettled global energy markets has impacted local fuel prices resulting in the Zimbabwe Energy Regulatory Authority (ZERA) reviewing upwards the prices of diesel and petrol for a second time in one week.

In a statement, earlier posted on Pindula News platforms, the regulatory body said the new price of diesel 50 in local currency is $218.01 per litre while that of petrol (E10) is $216.78.

In US dollars, the new price of diesel 50 is US$1,68 while petrol is now pegged at US$1,67. Reads part of the statement from ZERA:

Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided for by the fuel pricing regulations.

Russia – Ukraine Conflict vs Global economy:

  • Russia invaded Ukraine on 24 February 2022 over alleged human rights abuse, on pro-Russian separatist groups, by the Kyiv administration.
  • Kyiv denies the allegations, brands them as propaganda.
  • Western states, including NATO, the European Union, the United Kingdom and the United States of America, imposed sanctions on Russia making it impossible for Kremea to trade with the majority of the international community.
  • Russia retaliated by imposing sanctions on those countries.
  • Russia is one of the biggest producers of oil, its exports account for eight per cent of the global oil supply.
  • Russia and Ukraine’s wheat exports constitute about 40 per cent of the global wheat supply.

Responses to developments:

  • The United States reportedly held talks with Venezuela, another oil exporter amid reports that the USA intends to lift sanctions on its neighbour so as to cover the void left by Russia.
  • France is seeking measures to address over-reliance on Russia.
  • Zimbabwe is hoping that oil deposits in Muzarabani will produce enough oil for local consumption and exportation. (Invictus Energy Secures Drilling Rig For Muzarabani Oil Wells)
  • The Southern African country has also been urged to revive the Agriculture sector.

More: Pindula News

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Mafyt 3 months ago

Hezvo nhaimi kana muchiti ignore ZANU-PF related comments what do you mean?

kana zvirizvo pasi nePOLITICAL comments, pasi nema TRIBALISTIC comments zvachose or even pasi neCOMMENTS section,

ndipo paya pandinozoti vanhu veOPPOSITION makatsva maFUSE moti ndatuka vanhu, warwadziwa nei neku sapota ZANU kwangu? iwe kana usingaidi siyana,nayo ini ndomhanya nebhazi rakabata chikunyana

the FAKE Tkt can & will never deter me from supporting a political party of my choice, thats totally impossible

Viva Cde ED
2023 #EDPfeee

Davis Phiri 3 months ago

After what the US has done to Venezuela,I don't think Chavez will entertain the Western countries


Zvimbazi 3 months ago

Thank you very much for removing Vybz Kartel's comment which had some symptoms of Tribalism.

Thank you for complying


Zvimbazi 3 months ago

No siyana neni iwe . Wakaba mbudzi wani ku Highfiridzi ndakambokubvunza

Mboko 3 months ago

Iwe you are now boring Zvimbazi attention seeker mxm

Vybz Kartel 3 months ago

Which Kartel🤔🤔?

Jinx 3 months ago

Thank you at Pindula team for deleting tribalistic comments 👍

MusoroBangu 3 months ago

Ma1 atanga Petrol 1,67 kuchafamba vane mari chte

Dude 3 months ago

Chiredzi Puma Garage iripa 1.90 petrol & diseal

Ini zvangu 3 months ago

Which service stations are selling fuel in RTGS? I am a pensioner seriously looking for petrol in Kwekwe.

Tinmike 3 months ago

What happened to dhiziri pa chinhoyi?😂

Makelanwi 3 months ago

Kozvamaimbopaumba muchiri Nyika inotongwa nevene vayo,kuVISION YA2030 ICHABUDA HERE APA🐕🐕🐕

Coole 3 months ago

We say no tribalism let's try to ignore those who post comments relating to tribalism

Let's ignore comments especially from the likes of Vybz Kartel n all claiming to be ZANU supporters.Some of them are just commenting for the sake of spoiling our moods

Shadows 3 months ago

Musabewo zita rangu ndapota. Shadows ndewe zanupf for Lyf. Pamberi naED pfeeeeee

Shadows 3 months ago

Let's all sabotage e zanu zealots e.g Tkt,Vybz Kartel n others

zvakaoma 3 months ago

tribalism chiiko iwe wakuti sembura ,x iwe waida kuti tidzidze ndebele tinowa chiii pazviri imi kana makuda mabasa muchadzidza henyu shona semadzidziro amakaita chirungu

🙄 3 months ago

How does that really negatively affect us in a direct manner? I thought we are Russia's litte brother and we still can receive oil from Dussia as "usual". Did we also put Russia under punitive sanctions or Russia has placed us under sanctions. So what is advantage of being Russia's friend? Is it only so that they come to loot our minirals, develop nukes and leave our country with serious fegradation?

🙄 3 months ago

Okay. So it also means we have to strategically choose our allies.

Flymore 3 months ago

oil cannot be transported directly from Russia to Zimbabwe. It has to go through other countries and some of those countries have sanctioned Russia

Jinx 3 months ago

The article is about the Russia- Ukraine war, rimwe riri kungo bvaruka! Aewa ndazvitadza izvi... Tribalism has been dealt with... don't bring back expired issues

Babalao 3 months ago

piwaika neRussia ndimika makavhota in absentia kuti Russia isapiwa ma sanctions.

V*D 3 months ago

Kusavhota kuvhotera in some sense

3 months ago

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