The Zimbabwe Energy Regulatory Authority (ZERA) has announced new fuel prices for March, with authorities warning of rising cost pressures while assuring the public that supplies remain stable.

In a statement, ZERA set the price of diesel at ZWG 52.19 per litre and petrol blend (E5) at ZWG 55.13 per litre. In US dollar terms, diesel is priced at US$2.05 per litre, while petrol stands at US$2.17.

Officials said the government continues to monitor fuel availability closely, saying the country currently holds adequate reserves.

"The Government... notifies stakeholders that there are enough stocks of petroleum products in the supply chain... with more than three months' supply cover," the statement said.

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Authorities added that efforts are being made to shield Zimbabwe from global disruptions particularly ongoing instability in the Middle East.

"Working with oil traders, the Government is opening up supply routes not affected by the current conflict in the Middle East," ZERA said.

Despite the assurances, the regulator acknowledged mounting cost pressures indicating that regular price reviews will be necessary to maintain market stability.

"Cost pressures are piling up and these require that prices be reviewed... to avoid fuel shortages and arbitrage," the statement noted.

The government also said it is taking steps to ensure equitable fuel distribution across the country particularly in remote areas.

"Government is taking deliberate actions to ensure that fuel... is accessed by all fuel stations, especially those in the far-flung areas," it said, adding that state-linked firms Petrotrade and NOIC will play a key role.

Officials said the diesel price had been carefully set to cushion key sectors of the economy.

"The new price of diesel has been set with a view to mitigate the impact... to the mining, agriculture, haulage services and passenger transport sectors," the statement said.

Authorities further revealed that, without intervention, diesel prices could have been higher.

"Without Government intervention, the price of diesel would have been US$2.20 per litre," ZERA said.

In a move aimed at strengthening supply chains, the government has also approved new import routes.

"As a way to open up other avenues... Government has... approved the importation of diesel by road, in addition to pipeline and rail."

The measures come as Zimbabwe seeks to balance fuel affordability with supply security in a volatile global energy market.