Fuel prices dip below US$2 as global oil markets cool

LIVINGSTONE MARUFU
Government has reduced fuel prices to below US$2 per litre for both diesel and petrol following the easing of tensions around the Strait of Hormuz and the stabilisation of global crude oil markets.
Diesel prices have declined to US$1.99 per litre from US$2.09, while petrol prices have dropped to US$1.98 from US$2.08.
The latest adjustment is expected to provide relief to motorists, transport operators and businesses that have been grappling with elevated fuel costs. Analysts say the reduction could gradually filter through to the broader economy, helping to ease the cost of goods and services over the medium to long term.
In a statement, the Zimbabwe Energy Regulatory Authority (ZERA) said the new prices took effect on June 19, 2026 and will remain in force for the next two weeks as authorities continue efforts to shield consumers from the impact of geopolitical developments on international oil markets.