By Kudzaishe Chimonera
Retailers have been warned against raising prices unfairly as tensions in the Middle East threaten to disrupt global fuel supplies.
In an interview with 263chat, Confederation of Zimbabwe Retailers president Denford Mutashu, said ongoing conflict involving Israel, the United States and Iran was slowing the movement of fuel in the region, a key global supply hub.
“We are seeing reduced movement of fuel due to the unrest in the Middle East,” he said.
Mutashu noted that instability in several fuel-producing countries could limit availability on the international market raising concerns about potential knock-on effects for Zimbabwe.
While acknowledging that fluctuations in fuel supply often lead to higher petrol and diesel prices, he said there was no immediate justification for sharp increases in the cost of goods.
“We understand that petrol and diesel prices might rise but we are not expecting big increases in prices of goods,” he said.
He cautioned that in some countries, businesses exploit such uncertainty to impose excessive price increases even when underlying costs have not significantly changed.
“In other countries, some businesses take advantage and increase prices excessively,” he said.
Mutashu urged local businesses to act responsibly and avoid placing unnecessary pressure on consumers already grappling with the cost of living.
“We encourage businesses not to increase prices for buyers without a reasonable cause,” he added.
The warning comes as consumers remain wary of rising expenses with retailers being called upon to maintain fair pricing despite growing global uncertainty.
