Fuel prices up again
LIVINGSTONE MARUFU
Fuel prices in Zimbabwe shot up yesterday, marking the second increase this month, as global oil markets reel from the intensifying conflict between Iran, Israel, and the United States.
The Zimbabwe Energy Regulatory Authority (ZERA) announced that petrol will now sell at US$2.17 per litre, up from US$1.71, while diesel rises to US$2.05 per litre, from US$1.77.
ZERA attributed the surge to escalating global oil prices and supply chain disruptions linked to the Middle East confrontation.
“Cost pressures are piling up and require that prices be reviewed to avoid shortages and arbitrage. Government is taking deliberate actions to ensure that fuel brought into the country is accessible to all fuel stations, particularly in far-flung areas. Through state companies Petrotrade and NOIC, we will actively manage supply,” the authority said.
The regulator added that the revised diesel price aims to cushion key sectors including mining, agriculture, haulage, and passenger transport.
ZERA also reaffirmed that Zimbabwe currently has more than three months’ fuel supply cover, from the port of Beira to inland storage facilities, and confirmed that additional diesel imports by road have been approved to supplement pipeline and rail routes.
The surge comes as crude oil prices spike globally, sending shockwaves through domestic markets and fueling concerns over inflation and production costs. Economists warn that Zimbabwe’s heavy reliance on imported fuel leaves the economy vulnerable to external shocks, with increases likely to ripple across transport, manufacturing, mining, and agricultural sectors.
For consumers already grappling with high living costs, the new prices further squeeze disposable incomes, amplifying economic pressure and public anxiety.
Fuel prices remain a key macroeconomic variable in Zimbabwe, closely linked to inflation and overall economic performance. The latest increase will test policymakers’ ability to maintain stability amid mounting external shocks.
