Treasury has approved a sharp rise in fuel levies, a move expected to push up pump prices and drive higher costs for businesses and households across the economy.
The increase in the Strategic Reserve Levy (SRL) for both diesel and petrol took effect on 2 June 2026.
The SRL on diesel has been raised to US$0.12 per litre from US$0.05, a 140% increase. The levy on petrol has been increased to US$0.523 per litre from US$0.413.
On Wednesday, diesel was retailing at US$2.09 per litre and petrol at US$2.08 per litre.
George Guvamatanga, Secretary for the Ministry of Finance, Economic Development and Investment Promotion, instructed the Zimbabwe Revenue Authority (ZIMRA) to implement the revised levy structure immediately.
“Treasury has approved the review of the Strategic Reserve Levy (SRL) on fuel in line with the approved retail prices,” Guvamatanga said.
“Your office is kindly requested to urgently facilitate drafting of the necessary Statutory Instrument to give effect to the above measure, which takes effect from 02 June 2026. The Zimbabwe Revenue Authority is also authorised to implement the above, pending publication of the legal instrument.”
