The Zimbabwe Energy Regulatory Authority (ZERA) has announced a slight reduction in fuel prices, effective immediately, following recent easing in global oil markets after Iran reopened the Strait of Hormuz, a critical global shipping route that had been disrupted amid conflict involving Israel and the United States.
Under the new pricing, diesel has been reduced to US$2.09 per litre from US$2.11, while petrol now costs US$2.08 per litre, down from US$2.23.
The adjustment comes after weeks of volatility in international fuel supply chains, which saw sharp increases in global oil prices following tensions in the Middle East and fears of prolonged disruption in one of the world’s most important energy corridors.
Authorities said government had prioritised fuel security through what it described as market-sensitive pricing mechanisms, alongside tax reductions aimed at cushioning both consumers and the broader economy during the period of instability.
In addition, officials pointed to increased fuel blending ratios—from E5 to E20—as part of broader efforts to stabilise pump prices and reduce dependence on imported petroleum products.
Government said it will continue pursuing measures designed to minimise the impact of global shocks on domestic fuel prices while ensuring continuity of supply.
Authorities also moved to calm public concerns, urging motorists not to engage in panic buying or hoarding, stating that the country has adequate fuel stocks covering a period of more than three months.
ZERA said it will continue to closely monitor global oil movements and local market dynamics over the next two weeks, the period during which the revised prices will remain under review, with further adjustments possible depending on international trends.
The development offers modest relief to consumers, although fuel prices remain significantly elevated compared to earlier in the year due to persistent global market instability.
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