The government of Zimbabwe has reviewed the strategic reserve levy for petroleum products.
The Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube reviewed the levy upwards in terms of section 3 of the Finance Act [Chapter 23:04].
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The Minister effected the review through Statutory Instrument 50 of 2025.
With effect from the 9th of May 2025 the levy chargeable shall be calculated at the rate of US$0,1870 per litre of diesel, and at the rate of US$0,2470 per litre of petrol from US$0.1570 to US$0.1870 per litre respectively.
The timely intervention is aimed at shielding the country from global shocks and build reserves to protect the country from supply chain disruptions. The proceeds from the levy are utilised to build a fuel reserve and maintain emergency supplies.
