ZERA pushes up fuel prices again

The Zimbabwe Energy Regulatory Authority has increased the retail prices of diesel and petrol for April, marking the third adjustment in recent weeks amid escalating global oil market pressures.

The latest revision comes as geopolitical tensions in the Middle East involving the United States, Israel, and Iran continue to disrupt global crude oil supply chains, pushing up import costs.

Under the new pricing structure, diesel has risen from US$2.05 to US$2.11 per litre, while petrol has increased from US$2.17 to US$2.23 per litre.

In a statement, ZERA said cost pressures in the international market have intensified, necessitating frequent price reviews to avoid fuel shortages and arbitrage.

"Since the last price review, FOB prices for diesel have gone up by 33.16%, and for petrol by 5.96%," the regulator said.

Despite the increases, authorities say the Government is working to cushion key sectors such as mining, agriculture, haulage, and passenger transport by keeping diesel prices below market-driven levels.

The Government of Zimbabwe says it is deliberately intervening to maintain stability, noting that without such measures diesel would have cost around US$2.65 per litre.

ZERA added that petrol prices may ease at the next review in two weeks, coinciding with an expected rise in ethanol blending from E5 to E20.

The regulator also confirmed that Zimbabwe currently has about three months of fuel supply in stock, supported by imports through Beira and inland storage facilities.

To strengthen supply security, Government has approved the importation of diesel by road in addition to existing pipeline and rail channels.

Authorities say fuel distribution is also being managed to ensure availability across all fuel stations, including those in remote areas, as the country navigates volatile global energy markets.