ZERA Increases Fuel Prices as Diesel Hits US$1.77 and Petrol US$1.71

Fuel pump at a Zimbabwe service station

The Zimbabwe Energy Regulatory Authority (ZERA) has increased fuel prices with effect from 4 March 2026, citing rising international oil costs. In a notice issued late Wednesday, the regulator said the new prices take immediate effect and will remain valid for the next two weeks, in line with Zimbabwe’s fuel pricing cycle.

Under the latest review, diesel has risen to US$1.77 per litre, up from US$1.52, while petrol now costs US$1.71 per litre, compared to US$1.56 previously. ZERA indicated that prices would have been significantly higher were it not for government intervention. According to the notice, the actual calculated price was US$1.90 per litre for diesel and US$1.81 per litre for petrol before the State reduced certain charges to cushion consumers.

“The petroleum prices are with immediate effect from 4 March 2026 for the next two weeks,” ZERA said.

“In the meantime, ZERA will be closely monitoring market developments to ensure that there is adequate supply in the market. “The above prices are as a result of Government reducing some of its charges to cushion consumers from astronomical increases that have happened due to changes in the international market. “Without Government cushioning, the actual prices would have been US$1.90 per litre for diesel and US$1.81 per litre for blend.”

The upward adjustment comes amid renewed volatility in global oil markets. Crude prices have climbed sharply in recent days following escalating geopolitical tensions in the Middle East. Market uncertainty intensified after reported joint US–Israeli strikes on Iran and subsequent retaliatory actions, raising fears of potential supply disruptions in a region that accounts for a substantial share of global oil production.

As a result, benchmark prices, including Brent crude, have surged, feeding into higher pump prices worldwide. Zimbabwe, which imports all of its fuel requirements, is particularly vulnerable to fluctuations in international oil markets.

Fuel price movements have a broad impact on the domestic economy, influencing transport costs, food prices, and overall inflation. Businesses and commuters are expected to feel the immediate effects of the latest increase, although the government’s partial cushioning has moderated the full extent of the rise.

ZERA reviews fuel prices every two weeks based on international oil prices, exchange rate movements, and statutory charges.

ZERA fuel prices; Zimbabwe fuel increase; Global oil prices