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*Impending Price Hikes As Govt Increases Tax On Fuel* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?fb Finance and Economic Development Minister Mthuli Ncube said Government will increase Excise Duty by 7 cents per litre on diesel & paraffin and 6.5 cents on petrol to reduce the arbitrage opportunities. He said the increase will take effect from 1 December this year. Said Ncube: ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- > This arbitrage opportunity has partly contributed to the increase in consumption of fuel products, with volumes for the period January to October 2018, amounting to US$1.29 billion. The increase in consumption is clearly unsustainable, considering that the available foreign currency reserves have to be shared among other critical priorities. I, therefore, propose to increase excise duty by 7 cents per litre on diesel and paraffin and 6.5 cents on petrol to reduce the arbitrage opportunities. This measure takes effect from 1 December 2018. *Also Read:* *Salary Cuts For Mnangagwa, Ministers And Top Govt Officials* *Mthuli Ncube Announces Biometric Registration For Civil Servants* itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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