HARARE – The Zimbabwean government has defended the latest fuel price increase, with Finance Minister Mthuli Ncube saying the adjustments were necessary to ensure continued fuel availability amid global supply pressures.
The Zimbabwe Energy Regulatory Authority (ZERA) this week announced a second fuel price hike in March, pushing diesel to US$2.05 per litre and petrol to US$2.17, largely driven by rising international oil prices linked to escalating conflict in the Middle East.
Speaking in an interview on Thursday, Ncube said the increases could have been steeper, but the government intervened to cushion consumers.
“The hike would have been higher, but we have effectively subsidised citizens through adjustments in levies and taxes,” he said.
He added that the pricing strategy was aimed at maintaining stable fuel supplies and preventing shortages, as global market disruptions continue to drive up costs.
Authorities say Zimbabwe currently holds more than three months’ worth of fuel stocks and is working with suppliers to secure alternative supply routes not affected by the ongoing geopolitical tensions.
The latest increase is expected to trigger further transport fare hikes, adding pressure on households already grappling with a rising cost of living.
