Fuel prices in Zimbabwe were recently reviewed. This was somehow anticipated given the current conflict between Russia and Ukraine. You will see in ZERA’s official communique that the fuel prices review has been necessitated by that. Fuel prices reviews in Zimbabwe have mostly been marginal since January 2021. The latest review constitutes the most significant margin we have seen in quite a long time.
ZERA Fuel Prices Update – March 2022
ZERA issued the official communique as follows:
“Please be advised that the prescribed prices for diesel and blend for March 2022 are as follows:
The fuel price increase has been prompted by international crude oil prices which continuously went up following tensions in Eastern Europe. The government has had to subsidize the final price to cushion the economy.
The public and operators are advised that the blending ratio remains at E0. Operators may sell the petroleum products below the prescribed prices depending on their trading advantages and should display prices in a prominent place as provided by the fuel pricing regulations.”
At A Glance…
US Dollar Prices
ZWL Dollar Prices
If Russia’s invasion of Ukraine continues, it is projected that fuel prices will continue to surge. Already here in Zimbabwe, we have just seen a sharp rise as compared to the previous months. In ZERA’s communique, they indicated that the government-subsidized the price of fuel. This means ordinarily it could have been higher than the currently prescribed prices. Many countries are experiencing this rise in fuel prices; a close example is South Africa. It has been reported that in the worst-case scenario the fuel price in South Africa could rise by 100 percent. That would mean that a litre would get to R40 per litre. The unfortunate thing about fuel price increases is how influential they are. The moment fuel prices go up, every other basic thing follows suit. In Zimbabwe where many still struggle to make ends meet, it can only mean even more struggling. No wonder why as much as you might feel safe being far from Ukraine, you will still feel the effects. We live in a global village; we are so interconnected that something happening miles away can affect you.