Fuel Prices Spike as Government Claims Three-Month Reserve Amid Middle East Conflict
- Southerton Business Times
- 4 days ago
- 2 min read
Harare, Zimbabwe- Acting Minister of Energy and Power Development, Zhemu Soda, has assured the nation that Zimbabwe holds sufficient fuel reserves to meet demand for the next three months, seeking to ease fears of potential shortages caused by the escalating conflict in the Middle East.
Speaking in the National Assembly on Wednesday, Soda, who also serves as the Minister of Information, Publicity, and Broadcasting Services, revealed that current stocks of diesel, petrol, and Jet A1 are stable. However, he conceded that the Minister of Information, Publicity, and Broadcasting Services revealed that the current geopolitical crisis has already begun to disrupt global supply routes, leading to inevitable price hikes.
ZERA Announces Immediate Price Hikes
Hours after the Minister’s parliamentary briefing, the Zimbabwe Energy Regulatory Authority (ZERA) announced a significant increase in fuel prices. The regulatory body noted that prices would have been even higher had the government not intervened to reduce certain levies.
New Fuel Price Comparison (USD per Litre):
Fuel Type | Old Price | New Price | Increase |
Diesel | $1.52 | $1.77 | +$0.25 |
Petrol | $1.56 | $1.71 | +$0.15 |
Note: ZERA stated that without government cushioning, Diesel would have hit $1.90 and Petrol $1.81.
Strategic Reserves and SADC Alternatives
Minister Soda emphasized that the government is monitoring stocks currently in transit between Zimbabwe and the port of Beira, as well as ships docking in Mozambique.
“It shows we have some stocks that can take us for the next two to three months,” Soda said. “If the conflict extends, we will be able to get fuel for our operations... including LPG gas.”
The Minister also indicated a shift in procurement strategy, stating that Zimbabwe will now actively scout for fuel products within the SADC region to mitigate the risks of closed international maritime routes.
The Price of Global Instability
Soda warned that as long as international supply routes remain disrupted by the war, prices will continue to be volatile.
“Prices are a function of supply and demand. For as long as our supply routes are disrupted, obviously, the prices will respond,” he noted.
The new fuel prices take immediate effect and are scheduled for review in two weeks.
Zimbabwe fuel price increase 2026
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