Tinotenda Hove – The Zimbabwe Energy Regulatory Authority (ZERA) has announced an increase in fuel prices, with the new rates coming into effect on 4 March 2026.

In a statement released on Wednesday evening, the energy regulator said the revised prices are effective immediately and will apply for the next two weeks while authorities continue monitoring developments in the fuel market.

Under the new pricing structure, diesel is now selling at US$1.77 per litre, up from the previous US$1.52. Petrol has also been adjusted upward and is now priced at US$1.71 per litre, rising from US$1.56.

ZERA explained that the prices could have been significantly higher if the Government had not intervened to ease the burden on consumers by reducing certain charges.

“The petroleum prices are with immediate effect from 4 March 2026 for the next two weeks,” ZERA said in the notice.

The authority also assured motorists and businesses that it will keep a close watch on the fuel market to ensure adequate availability of supplies across the country.

“In the meantime, ZERA will be closely monitoring the market developments to ensure that there is adequate supply in the market,” the regulator stated.

Officials further noted that the Government stepped in to limit the extent of the increase after international market changes pushed fuel costs upward.

“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.

The regulator added that without the Government’s intervention, motorists would have faced even higher pump prices.
“Without Government cushioning, the actual prices would have been US$1.90 per litre for diesel and US$1.81 per litre for blend,” the statement added.

The latest price adjustment comes at a time when global oil prices have been rising sharply, largely driven by growing geopolitical tensions in the Middle East. Recent military actions involving the United States, Israel and Iran have heightened fears of disruptions to oil supplies from the region, which produces a significant share of the world’s crude oil.

As a result, benchmark crude oil prices, including Brent crude, have surged on international markets, triggering higher fuel costs in many countries. Zimbabwe, which relies heavily on imported fuel, has also been affected by these global price movements.