Online Reporter
Tapiwanashe Mangwiro
Senior Business Reporter
Zimbabwe’s fuel market continues to demonstrate resilience, with diesel prices holding firm at US$1,55 per litre for the third month running, the latest update from the Zimbabwe Energy Regulatory Authority, shows.
The stability in the domestic fuel prices comes against fluctuations in the international market.
Global fuel prices are projected to continue to fluctuate, with significant drops in crude oil prices expected by late 2025 and into 2026 due to increasing oil inventories from OPEC+ members.
However, geopolitical tensions, supply chain disruptions and increased global demand are still expected to cause price spikes, leading to volatility.
Global fuel prices experienced a significant decline in the first half of the year, driven by a combination of oversupply, weakened demand and geopolitical dynamics, bringing prices to four-year lows before some slight upward pressure emerged a few months later.
In Zimbabwe, the unchanged September price has been widely welcomed by businesses and consumers alike, marking a prolonged stability in one of the economy’s most sensitive sectors.
Petrol has also maintained a stable trajectory, easing slightly from US$1,56 per litre in August to US$1,55 this month.
This durable price stability in the fuels market reflects deliberate policy measures designed to shield the economy from global oil turbulence while supporting growth at home.
For entrepreneurs and fleet operators who depend heavily on diesel, the benefits of such stability are clear.
Mr Kelvin Mombe, a Harare-based entrepreneur in logistics and delivery services, said the predictability of prices was proving more valuable than temporary price cuts.
“Stability is everything,” Mr Mombe explained.
“Knowing diesel is US$1,55 today, next week and next month allows me to budget, take on new contracts and serve my clients without the fear of sudden spikes. It is not just about saving a few cents; it is about being able to plan and expand.”
Such sentiments were also echoed across the small business sector, where fuel is among the largest operating costs.
Economist Gladys Shumbambiri-Mutsopotsi noted that the significance of steady fuel prices extends far beyond transport operators.
“When fuel prices are predictable, transport costs stabilise, production costs can be forecast accurately, and consumer confidence improves,” she said.
“It strengthens planning for businesses, especially SMEs, which form the backbone of our economy and employ the majority of Zimbabweans. The broader effect is that the whole economy becomes more predictable, and that is what drives sustainable growth.”
She underscored how controlled fuel costs were acting as another key lever for durable economic stability at a time when Government policy seeks to ensure macroeconomic stability, accelerated growth and resilience and Vision 2030.
This stability of fuel pump prices contrasts with shifting patterns in global oil markets. Brent crude oil, the international benchmark, has been oscillating between US$81 and US$87 a barrel over the past four months.
May averaged US$82 per barrel, June climbed to US$85, before dipping in July to US$81, before firming again to US$87 in August. Early September has continued in the US$86–US$88 range.
However, Zimbabwe has kept pump prices steady, a reflection of disciplined management of import costs, consistent exchange rate policy, and the successful ethanol blending programme, which continues to cushion petrol prices.
Diesel, which has not moved since July, remains a symbol of that consistency.
Such a scenario boosts competitiveness for local producers and exporters, ensuring transport and logistics costs remain stable against regional peers.
ZERA data also shows how fuel contributes to national fiscal revenue mobilisation. Of the US$1,55 diesel price per litre, US$0,57 goes to taxes and levies and is channelled into infrastructure, road rehabilitation and energy projects.
Administrative and distribution costs remain tightly managed, at a combined US$0,056 per litre, while wholesale and dealer margins are capped to ensure fair play in the supply chain.
Officials argue this balance ensures not only stability at the pump, but also reliable funding for national priorities, turning every litre purchased into a contribution towards Vision 2030’s targets.
With September marking the third successive month of unchanged diesel prices, analysts believe this consistency will give businesses the confidence to expand and help lock in economic recovery.
Entrepreneurs like Mr Mombe have already affirmed this development, while economists like Ms Shumbambiri-Mutsopotsi see broader benefits for inflation expectations, consumer confidence and overall planning.
At a time when global oil markets remain volatile, Zimbabwe’s ability to hold its line on fuel costs emphasises that careful policy and sound management can deliver stability.
