The escalating conflict in the Middle East, sparked by the US attack on Iran, has led to a sharp increase in fuel prices globally, with Zimbabwe being no exception. The Zimbabwe Energy Regulatory Authority (ZERA) announced on Thursday that diesel prices have risen by 16% to US$1.77 per litre, while petrol prices have increased by 10% to US$1.71 per litre, effective March 4, 2026.
The price hikes are attributed to disruptions in oil supplies from the Middle East, a major global oil hub. The situation has led to flight cancellations and uncertainty in the international market, prompting ZERA to review prices for the next two weeks.
However, the Zimbabwean government has intervened to mitigate the impact on consumers. By reducing certain charges, the government has managed to cushion the blow, preventing diesel and petrol prices from rising to US$1.90 and US$1.81 per litre, respectively.
President Emmerson Mnangagwa’s administration has prioritized protecting businesses and citizens, directing authorities to ensure price stability. This move is expected to support the country’s economic stabilization efforts and progress towards Vision 2030 and the National Development Strategy 2 (NDS2).
The government has condemned the developments in the Middle East, calling for respect for countries’ sovereignty and urging the US to be held accountable for its actions. The situation remains fluid, and the government continues to monitor the situation closely.
