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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?ua 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: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > 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* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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