The Zimbabwe Energy Regulatory Authority (Zera) has increased the price of petrol and diesel by about 10% with effect from Wednesday, citing the ripple effects of escalating conflict in the Middle East.
The hike, which will be in force for the next two weeks, is expected to trigger a fresh wave of price increases across the economy, raising concerns about renewed inflationary pressures and higher transport and production costs.
The latest adjustment underscores Zimbabwe’s vulnerability to global oil market shocks, as tensions between major powers in the Middle East disrupt supply chains and push up international fuel prices.
Petrol is now selling at US$1,71 per litre, up from US$1,56, while diesel has risen to US$1,77 per litre from US$1,52.
The increases follow escalating strikes by the United States and Israel against Iran, which have widened regional tensions and disrupted shipping through the Strait of Hormuz — a critical artery for global oil and gas flows.
The US and Israel launched strikes on Saturday, prompting Iran to retaliate with missile attacks targeting Gulf countries hosting US military bases.
In a statement, Zera said it would closely monitor market developments to ensure adequate fuel supplies.
It added that prices would have been significantly higher without government intervention.
“The above prices are a result of government reducing some of its charges to cushion consumers from astronomical increases that have happened due to changes in the international market. Without government cushioning, the actual price would have been US$1,90 per litre for diesel and US$1,81 per litre for blend,” Zera said.
Fuel prices jump on Middle East crisis
