By Patience Gondo
FUEL prices in Zimbabwe have been increased by 25 cents for diesel and 15 cents for petrol after the Zimbabwe Energy Regulatory Authority (ZERA) announced new petroleum prices effective March 4, 2026 following global oil supply disruptions caused by the closure of the Strait of Hormuz by Iran.
ZERA said diesel is now selling at US$1.77 per litre, up from US$1.52, while petrol blend (E5) has risen to US$1.71 per litre from US$1.56 .
In local currency, diesel is now pegged at ZWG45.55 per litre while blend petrol costs ZWG44.01 per litre.
ZERA said the prices took immediate effect on March 4 and will remain in place for the next two weeks while the authority monitors developments on the international market.
“The above prices are as a result of Government reducing some of its charges to cushion the consumers from astronomical increases that have happened from changes in the international market,” ZERA said .
Without that intervention, diesel would have cost US$1.90 per litre, while petrol would have reached US$1.81 per litre, ZERA said.
The increase comes as tensions in the Middle East disrupt global oil supply routes.
According to information published by Google, the Strait of Hormuz is one of the world’s most critical oil transit routes.
Nearly one in every five barrels of oil traded globally passes through the narrow sea passage every day.
The closure of the route by Iran has tightened global oil supply and created uncertainty in international energy markets.
When oil cannot move freely through the passage, supply becomes constrained and prices usually rise.
Countries such as Zimbabwe are particularly vulnerable to such shocks because they import most of their petroleum products.
The two-week pricing window announced by ZERA reflects the uncertainty surrounding how long the disruption in global oil supply will last.