Don’t Panic! Zimbabwe Has 3 Months of Fuel Reserves: Minister Reassures Nation Over Middle East War

Zimbabwe Sits On Three Months Of Fuel Reserves Amid Middle East War Fears

Harare – The government has moved to calm a nervous nation, assuring citizens that the country is sitting on a comfortable fuel stockpile that will last up to three months, even as fears of a major supply shock from the escalating conflict in the Middle East threaten to rattle global markets.

Amid growing anxiety over the potential ripple effects of the US-Israel conflict with Iran, Acting Energy Minister Dr Zhemu Soda told Parliament this week that Zimbabwe’s fuel depots are adequately stocked. He confirmed that the nation has enough petrol, diesel and jet fuel to keep the economy running while authorities monitor the volatile geopolitical situation.

Stocks In Transit And On The Water

Addressing the National Assembly on Wednesday, Dr Soda revealed that the Minister of Energy had just presented a comprehensive report to Cabinet detailing the precise state of the nation’s fuel security.

“The Minister of Energy presented a report to Cabinet yesterday indicating the level of our stocks that are holding in the country, both diesel and petrol, including Jet A1 for our aeroplanes.”

Dr Soda told Speaker Jacob Mudenda that the situation is firmly under control.

“We were also briefed about the stocks that are in transit between our country and Beira (Mozambique) and the ships that are about to dock in Beira. It shows we have some stocks that can take us for the next two to three months.”

The assurance comes after Zanu PF legislator Walter Farai Mapfumo raised red flags in the House, questioning whether the government had a Plan B should the Middle East conflict escalate further. Mapfumo pointed out the vulnerability of the Beira corridor, Zimbabwe’s main artery for fuel imports.

“Considering the conflict that is happening in the Middle East, which will have a domino effect on the SADC region, Zimbabwe included, we already see the fuel prices, gas, jet fuel and LPG gas going up. Beira is vulnerable. What contingency measures does the Energy minister have in case of an imminent blockade if the conflict persists? If the conflict should persist, considering it will increase voyage time around the Cape of Good Hope, that means also the prices are going to go up. Is the Ministry able to cater to that increment in price and supply the nation for our development trajectory?”

Price Hikes On The Horizon

While the government guarantees the physical availability of fuel, Dr Soda was candid with legislators that motorists and businesses should brace for potential price shocks. He admitted that Zimbabwe cannot be an island immune to global economic storms.

“We cannot guarantee that prices will not fluctuate. Prices are a function of supply and demand. For as long as our supply routes are disrupted, obviously, the prices will respond. As a result of the conflict, some routes have since been closed. As a result, prices will respond.”

Despite the likely jump in costs at the pump, the Acting Minister insisted that the essential functions of the economy will not grind to a halt.

“However, all I can assure this House is that through the measures that the government has taken to ascertain the stocks that we have, the stocks that are in Beira, including some stocks that will be free in Beira, which we think we should be able to take advantage of, we will be able to cater for the activities that are happening in the economy, in terms of agriculture, mining and all other manufacturing. We will be able to cater to that, but as the conflict continues, we do not know which other areas it is going to affect, but we will continue to monitor.”

In response to further questioning from Zanu PF Zaka East MP Clemence Chiduwa regarding the possibility of sourcing fuel regionally, Dr Soda left the door open for emergency measures.

“Because we are now in a crisis, there is nothing that can stop us from scouting for the availability of the product from within SADC.”

According to Newzimbabwe, the government’s assessment includes stocks already in country, those in transit from Beira, and vessels waiting to dock at the Mozambican port.