In
a
notice
issued
on
Wednesday
night,
ZERA
said
the
new
prices
take
immediate
effect
and
will
remain
in
place
for
the
next
two
weeks.
The
price
of
diesel
has
gone
up
to
US$1.77
per
litre,
from
US$1.52,
while
petrol
now
costs
US$1.71
per
litre,
up
from
US$1.56.
ZERA
added
that
the
actual
prices
would
have
been
higher
—
US$1.90
per
litre
for
diesel
and
US$1.81
per
litre
for
petrol
—
had
it
not
been
for
the
Government’s
decision
to
cushion
consumers
from
the
full
increase.
Reads
the
notice:
“The
petroleum
prices
are
with
immediate
effect
from
4
March
2026
for
the
next
two
weeks.“In
the
meantime,
ZERA
will
be
closely
monitoring
the
market
developments
to
ensure
that
there
is
adequate
supply
in
the
market.“The
above
prices
are
as
a
result
of
Government
reducing
some
of
its
charges
to
cushion
the
consumers
from
astronomical
increases
that
have
happened
from
changes
in
the
international
market.“Without
Government
cushioning,
the
actual
prices
would
have
been
US$1.90/litre
for
diesel
and
US$1.81/litre
for
blend.”
Global
fuel
prices
have
been
climbing
in
recent
days
due
to
rising
geopolitical
tensions
in
the
Middle
East,
which
have
pushed
up
the
cost
of
crude
oil,
the
main
ingredient
for
petrol
and
diesel.
The
situation
escalated
after
joint
US–Israeli
strikes
on
Iran
and
subsequent
retaliation,
sparking
fears
of
major
supply
disruptions
in
a
region
that
provides
a
significant
portion
of
the
world’s
oil
and
gas.
These
concerns
sent
oil
prices,
including
Brent
crude,
sharply
higher,
which
in
turn
has
pushed
up
fuel
prices
at
the
pump
around
the
world.