Government Assures Nation of Adequate Fuel Supplies Amid Global Tensions
Government has moved to reassure the nation that Zimbabwe’s fuel supply remains secure, even as escalating tensions in the Middle East continue to push global oil prices upward.
Authorities say the country has enough fuel to sustain national demand for the next three months, a position meant to ease public concern about possible shortages.
Fuel Stocks Deemed Sufficient
Acting Minister of Energy and Power Development Dr Zhemu Soda, told the National Assembly on Wednesday that authorities had already assessed the country’s preparedness and confirmed that fuel stocks were adequate.
Addressing legislators, Dr Soda said a detailed report presented to Parliament showed that Zimbabwe’s fuel storage facilities are well stocked and capable of sustaining the country for the coming months.
He sought to calm fears raised by lawmakers regarding possible disruptions to supply and the potential impact of geopolitical tensions on fuel availability.
According to the minister, the Government has maintained supply contracts with regional partners, ensuring that the flow of petroleum products into the country remains stable.
Market Forces Could Affect Prices
Despite the assurances on supply, Dr Soda warned that fuel prices could still be influenced by developments on the global market.
He noted that while the Government has taken steps to secure supplies, any disruptions to international supply chains could ultimately affect local pump prices, as these are largely driven by global oil market trends.
ZERA Announces Fuel Price Increase
Meanwhile, the Zimbabwe Energy Regulatory Authority (ZERA) has announced an increase in the price of petrol and diesel, effective March 4.
Diesel is now selling at US$1.77 per litre, up from US$1.52, while petrol has risen to US$1.71 per litre, from US$1.56.
In a statement released Wednesday, the regulator said the adjustments were necessary due to rising global oil prices triggered by escalating geopolitical tensions in the Middle East.
“The new petroleum prices are with immediate effect from 4 March 2026 for the next two weeks. In the meantime, ZERA will be monitoring market developments to ensure there is adequate fuel supply,” the authority said.
Government Subsidy Softens Price Spike
Authorities indicated that the price increases could have been steeper, potentially reaching as high as US$1.90 per litre, but Government intervention helped cushion consumers.
A subsidy was introduced to limit the extent of the increase, shielding motorists and businesses from the full impact of the surge in global oil prices.
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