Zimbabwe has sufficient fuel stocks to last between two and three months, amid fears that escalating tensions in the Middle East could disrupt global energy supplies and push up prices, Information Minister Soda Zhemu told Parliament.
Zhemu representing Energy Minister July Moyo told Parliament that authorities are closely monitoring the situation following recent oil market disruptions linked to the ongoing US-Israel conflict with Iran.
Responding during a question-and-answer session in the National Assembly, Zhemu said the government had already been briefed on the country's fuel reserves.
He said the Energy Minister, July Moyo, presented a report to Cabinet on Tuesday detailing the status of the country's fuel supplies.
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"The Minister of Energy presented a report to Cabinet yesterday indicating the level of our stocks that are holding in the country, both diesel and petrol, including Jet A1 for our aeroplanes," Zhemu told Speaker of the National Assembly Jacob Mudenda.
"We were also briefed about the stocks that are in transit between our country and Beira (Mozambique) and the ships that are about to dock in Beira.
"It shows we have some stocks that can take us for the next two to three months."
The issue was raised by Zanu PF legislator Walter Farai Mapfumo, who questioned the government's contingency plans should the conflict in the Middle East worsen.
"Considering the conflict that is happening in the Middle East, which will have a domino effect on the SADC region, Zimbabwe included, we already see the fuel prices, gas, jet fuel and LPG gas going up. Beira is vulnerable," said Mapfumo.
"What contingency measures does the Energy minister have in case of an imminent blockade if the conflict persists?
"If the conflict should persist, considering it will increase voyage time around the Cape of Good Hope, that means also the prices are going to go up. Is the Ministry able to cater to that increment in price and supply the nation for our development trajectory?"
Zhemu acknowledged that global developments could trigger price fluctuations.
"We cannot guarantee that prices will not fluctuate. Prices are a function of supply and demand. For as long as our supply routes are disrupted, obviously, the prices will respond," he said.
"As a result of the conflict, some routes have since been closed. As a result, prices will respond.
"However, all I can assure this House is that through the measures that the government has taken to ascertain the stocks that we have, the stocks that are in Beira, including some stocks that will be free in Beira, which we think we should be able to take advantage of, we will be able to cater for the activities that are happening in the economy, in terms of agriculture, mining and all other manufacturing.
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"We will be able to cater to that, but as the conflict continues, we do not know which other areas it is going to affect, but we will continue to monitor."
Zanu PF Zaka East MP Clemence Chiduwa asked whether Zimbabwe could source petroleum products within the Southern African region to cushion itself against potential global supply disruptions.
"As part of the SADC trade protocols, we promote intra-trade between SADC countries. Given the likelihood of the geopolitical tensions continuing, do we have any government policy to ensure that we buy some of our petroleum products within SADC as part of our SADC trade policy?" Chiduwa asked.
Zhemu said Zimbabwe could explore regional supply options if the situation worsens.
"Because we are now in a crisis, there is nothing that can stop us from scouting for the availability of the product from within SADC," he said.
