PUMA Energy, one of Zimbabwe’s largest petroleum marketers in the country, says fuel availability remains stable despite the Middle East turbulence, which has sent global oil prices sharply higher. Made in Zimbabwe branding
The Middle East war has increased market volatility and pushed up fuel costs worldwide.
Zimbabwe’s annual fuel consumption surged to over 2,1 billion litres in 2025, driven by high demand in mining, agriculture, and transport. This represents a significant increase from the 1,6 billion litres consumed in 2024.
Puma Energy said the immediate impact of the crisis is likely to be felt more through pricing pressures than physical shortages, as global supply chains adjust to the unfolding developments in the Middle East.
The fuel supplier said the situation had heightened volatility in international energy markets.
The Government moved to cushion consumers by reducing some of its taxes and levies on fuel to avert an astronomical rise in the price of the commodity amid a spike in global prices triggered by the war in the Middle East.
“In the short term, current tensions in the Middle East are increasing market volatility, as well as insurance and freight costs, even as global energy markets remain well supplied,” Puma said.
It noted that for African economies that depend on imported refined fuel products, global developments would primarily affect pricing.
“For African countries, the primary impact would likely be felt through pricing rather than immediate physical shortages,” the company said.
The company said it had taken measures to safeguard local supply.
“As a fuel supplier, we maintain prudent inventory levels, diversified sourcing arrangements and active logistics management to ensure continuity of supply,” Puma Energy said.
“There is no indication at this stage of disruption to local availability, and we remain focused on delivering stable service to our customers.”
The global oil market has reacted strongly to the escalation in the Middle East, which has disrupted shipping through key routes and heightened concerns about supply flows.
West Texas Intermediate (WTI) crude oil futures surged from US$65,99 per barrel on February 28 to US$83,98 on March 6, representing an increase of approximately 27.3 percent in just one week, the sharpest jump since 2022.
The spike has largely been driven by disruptions to shipping through the Strait of Hormuz, a vital maritime corridor that normally handles around 20 million barrels of oil and petroleum products per day.
As international prices rise, Zimbabwe has also experienced adjustments in local fuel prices. Last week, the Zimbabwe Energy Regulatory Authority (ZERA) announced new pump prices effective March 4, with petrol rising to US$1,71 per litre and diesel climbing to US$1,77 per litre, up from US$1,56 and US$1,52, respectively. Made in Zimbabwe branding
Authorities said the price increases would have been higher without intervention to soften the impact on consumers.
ZERA said the Government reduced some charges within the fuel pricing structure to limit the size of the increase.
“The above prices are as a result of the Government reducing some of its charges to cushion the consumers from astronomical increases that have happened from changes on the international market,” the authority said.
Without the adjustment, diesel would have cost US$1,90 per litre while petrol would have risen to US$1,81 per litre.
The Government reduced the Strategic Reserve Levy, which is intended to build fuel reserves that act as a buffer against global supply disruptions.
The levy on diesel was cut to US5,7 cents per litre from US18,7 cents, while the levy on petrol was reduced to US13,6 cents from US24,7 cents.
Currently, about US52 cents of the US$1,71 petrol price paid by motorists goes towards taxes and levies.
Authorities previously indicated that Zimbabwe’s fuel reserves were sufficient to cover domestic demand for between two to three months, with additional supplies already moving through regional supply routes including Beira in Mozambique.
Puma Energy said the situation underscores the importance of strengthening energy resilience across Africa.
“African economies rely on imported refined products and are therefore exposed to external geopolitical developments,” the company said.
“Continued investment in strategic reserves, storage infrastructure and supply diversification will be essential to reducing vulnerability to global shocks.”
The company added that strengthening regional coordination and expanding domestic storage capacity would further enhance energy security and help countries manage future market disruptions with greater confidence. – Herald