Govt Reviews Fuel Taxes as Global Oil Prices Surge

Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube says government is reviewing taxes and levies on fuel in a bid to cushion citizens from rising global oil prices driven by geopolitical tensions in the Middle East.
Speaking on the developments, Ncube acknowledged that the current global situation has pushed fuel prices upward, but assured Zimbabweans that authorities are taking steps to stabilise both supply and pricing.

“We have decided as government to ensure that there is adequate supply of fuel over the next three months,” he said, adding that engagements with suppliers and financial arrangements already in place will guarantee availability. “So we won’t have a shortage of fuel.”
Beyond supply, the minister indicated that government is actively intervening on pricing through subsidies and a review of the tax structure on fuel. He said authorities are assessing various taxes and levies with a view to making adjustments that could reduce the burden on consumers.
“We are looking at various taxes and levies to see if we can make further adjustments going forward, so as to cap the impact of these hikes in global prices,” Ncube said.
However, he cautioned that any intervention must be carefully balanced to avoid unintended consequences. “We have to do it in a responsible way. You don’t want to reduce prices prematurely while global prices continue rising and then find yourself in a difficult position,” he explained.
The minister reiterated government’s commitment to protecting citizens from external economic shocks, noting that more measures could be announced as authorities continue to monitor global developments.
Zimbabwe, like many countries, remains vulnerable to international oil price fluctuations, with fuel costs having a direct impact on transport, production, and the general cost of living.