Govt maintains staple prices amid Middle East crisis, announces fuel tax review

NewsPoliticsBy Nyasha ChumaHARARE – Government has moved in to reassure the public by rer-eading the stability of basic commodity prices, despite mounting pressures from the ongoing Middle East crisis, following the 7th Cabinet meeting held Tuesday.Cabinet eviewed the impact of global geo-political tensions on the domestic market for the period January to March 2026.While disruptions in the international oil market have triggered fluctuations in global fuel prices, the local market has remained largely resilient.According to the post cabinet briefing, most businesses have held the line on essential goods including mealie-meal, cooking oil, sugar, flour, rice, beef, chicken, and dairy products.However, authorities acknowledged that a handful of bread makers had implemented an average price increase of 10 percent.Price hikes were also noted in the transport sector, particularly among passenger vehicle operators.In a decisive move to contain inflationary pressures and protect consumer welfare, Cabinet has approved a review of selected and time-bound fuel taxes.The measure is aimed at cushioning the public from external shocks without destabilizing the macro economy.In addition, Government is actively exploring an increase in the ethanol blending ratio for petrol, from the current E5 to E20.Officials believe the shift could reduce the pump price of petrol by substituting a portion of imported fuel with locally produced ethanol.Refinements to the proposal are currently underway, with further announcements on fuel price adjustments expected in due course.Leave a ReplyCancel reply NewsPoliticsBy Nyasha ChumaHARARE – Government has moved in to reassure the public by rer-eading the stability of basic commodity prices, despite mounting pressures from the ongoing Middle East crisis, following the 7th Cabinet meeting held Tuesday.Cabinet eviewed the impact of global geo-political tensions on the domestic market for the period January to March 2026.While disruptions in the international oil market have triggered fluctuations in global fuel prices, the local market has remained largely resilient.According to the post cabinet briefing, most businesses have held the line on essential goods including mealie-meal, cooking oil, sugar, flour, rice, beef, chicken, and dairy products.However, authorities acknowledged that a handful of bread makers had implemented an average price increase of 10 percent.Price hikes were also noted in the transport sector, particularly among passenger vehicle operators.In a decisive move to contain inflationary pressures and protect consumer welfare, Cabinet has approved a review of selected and time-bound fuel taxes.The measure is aimed at cushioning the public from external shocks without destabilizing the macro economy.In addition, Government is actively exploring an increase in the ethanol blending ratio for petrol, from the current E5 to E20.Officials believe the shift could reduce the pump price of petrol by substituting a portion of imported fuel with locally produced ethanol.Refinements to the proposal are currently underway, with further announcements on fuel price adjustments expected in due course. HARARE – Government has moved in to reassure the public by rer-eading the stability of basic commodity prices, despite mounting pressures from the ongoing Middle East crisis, following the 7th Cabinet meeting held Tuesday. Cabinet eviewed the impact of global geo-political tensions on the domestic market for the period January to March 2026.

While disruptions in the international oil market have triggered fluctuations in global fuel prices, the local market has remained largely resilient. According to the post cabinet briefing, most businesses have held the line on essential goods including mealie-meal, cooking oil, sugar, flour, rice, beef, chicken, and dairy products. However, authorities acknowledged that a handful of bread makers had implemented an average price increase of 10 percent.

Price hikes were also noted in the transport sector, particularly among passenger vehicle operators. In a decisive move to contain inflationary pressures and protect consumer welfare, Cabinet has approved a review of selected and time-bound fuel taxes. The measure is aimed at cushioning the public from external shocks without destabilizing the macro economy.