Zimbabwe fuel goes up to over US2 per litre as Iran–Israel–United States conflict rages on

ZIMBABWE has reviewed its fuel price for the second time this month with the Zimbabwe Energy Regulatory Authority (ZERA) attributing the latest increase to rising global oil prices driven by supply chain disruptions linked to the ongoing Iran–Israel–United States war.

In its latest pricing update for March 2026, ZERA set the price of diesel at US$2.05 per litre and petrol (Blend E5) at US$2.17 per litre, translating to ZWG52.19 and ZWG55.13 respectively.
The energy regulator said the adjustments were necessary to reflect mounting cost pressures on the international market while safeguarding local fuel availability.

“While Government ensures security of fuel supply, ZERA notes that cost pressures are piling up and these require that prices be reviewed for two weeks to avoid fuel shortages and arbitrage,” said ZERA in a statement.

The latest increase comes amid global oil supply disruptions caused by escalating tensions in the Middle East, which have constrained supply routes and driven up import costs for fuel-dependent economies such as Zimbabwe.

Despite the price hikes, ZERA has assured the nation that fuel supplies remain stable, with adequate stocks available across the supply chain.

“Government notifies stakeholders that there are enough stocks of petroleum products…with more than three months’ supply cover,” ZERA said, adding that supplies are secured from Beira and inland storage facilities.
Authorities are also working with oil traders to diversify supply routes away from those affected by the conflict to ensure uninterrupted availability of fuel.

In a move aimed at easing supply bottlenecks, Government has approved the importation of diesel by road with immediate effect, complementing existing pipeline and rail transportation systems.

ZERA noted that the Government intervention has helped cushion consumers from steeper price increases, particularly for diesel, which is critical to key sectors of the economy.

“The new price of diesel has been set with a view to mitigate the impact of the increase to the mining, agriculture, haulage services and passenger transport sectors.
“Without Government intervention, the price of diesel would have been US$2.20 per litre,” the authority said.

The Government, through its entities PetroTrade and the National Oil Infrastructure Company (NOIC), will also step up efforts to ensure equitable distribution of fuel, especially to remote areas.

The continued price adjustments are expected to have a ripple effect across the economy, particularly in transport and production costs, as Zimbabwe remains exposed to global energy market shocks.