Middle East conflict pushes up Zimbabwe fuel prices as ZERA raises petrol and diesel

Middle East conflict pushes up Zimbabwe fuel prices as ZERA raises petrol and diesel
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HARARE – Zimbabwe’s fuel prices have risen after the Zimbabwe Energy Regulatory Authority (ZERA) announced new pump prices for both petrol and diesel, citing shifts on the international market as conflict in the Middle East continues to disrupt global supply chains.

Diesel is now priced at US$1.77 per litre, up from US$1.51, while petrol has increased to US$1.71 from US$1.50. In its update, ZERA attributed the increase to “changes in the international market”.

The higher fuel costs are expected to place pressure on household budgets and businesses, with transport operators and retailers likely to pass on some of the increases to consumers. In Zimbabwe, changes in fuel prices often influence the cost of public transport and the pricing of essential goods such as groceries, particularly where supply chains depend on long-distance road haulage.

The price movements in Zimbabwe come as oil markets react to instability in the Middle East. Internationally, fuel pump prices have also risen in parts of the United Kingdom and Europe, and further increases have been projected if the situation does not stabilise. Brent crude, a global benchmark, rose by 10% to about US$82 a barrel on Monday before easing to around US$78 by Wednesday, according to figures cited in reports carried by The Guardian.

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Beyond fuel, the disruption has also affected air travel. Reports from Europe indicate that flight prices between Europe and Asia have climbed after the closure of major Middle East hubs resulted in thousands of cancellations, leaving many passengers stranded and scrambling for alternative routes.

Michelle Wiese Bockmann, a commodities analyst, said on X that airlines were “gouging” travellers trying to get home, stating she had seen fares quoted between €2,400 and €3,600 for flights to London. “Governments need to step in and take control. This is worse than the pandemic. Disgraceful,” she said.

For Zimbabwe, any sustained rise in crude oil prices and shipping disruptions could continue to filter through to local pump prices, with knock-on effects on transport costs across the country, including in Mashonaland Central where communities depend heavily on road transport for access to markets, health services and schools.

Consumers and businesses are expected to closely monitor further ZERA announcements, as the regulator adjusts local pricing in response to international market movements.

Additional reporting by The Guardian.

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