Asian Journal of Economics, Business and Accounting

Zimbabwe’s oil industry continues to face long-standing, deep rooted and multifaceted challenges despite the adoption of a deregulation policy in 2003. Persistent foreign currency shortages, regulatory volatility, weak infrastructure, high supply chain costs, and inadequate investment have collectively undermined the efficiency and reliability of the petroleum sector. To interrogate these issues, this study employed a mixed-methods research design that integrated quantitative data from official reports, published statistics, and supply chain performance indices with qualitative insights from semi-structured interviews with policymakers, regulators, distributors, retailers, and consumers (n = 50). Purposive sampling ensured representation across key stakeholder groups, while NVivo 12 Plus facilitated systematic coding and thematic analysis. Document analysis, including statutory instruments and regulatory reports, provided additional contextual depth and triangulation. Findings indicate that foreign currency shortages account for approximately 60–70% of procurement delays, while transport and compliance costs have risen by an estimated 25% over the past five years. Whilst, supply chain performance indices further show an average distribution efficiency of only 52%, well below regional benchmarks. In short, foreign currency constraints remain the primary bottleneck to fuel procurement, while policy inconsistencies, rising compliance costs, infrastructural deficits, and logistical inefficiencies continue to elevate operational costs. Nevertheless, emerging initiatives in regulatory reform, infrastructure development, and alternative energy integration show positive potential. The study concludes that Zimbabwe’s petroleum sector challenges are predominantly structural and policy-driven rather than technical. Recommendations include stabilising currency policy, strengthening regulatory coherence, investing in supply chain modernisation, expanding storage and distribution infrastructure, and promoting local content and import substitution through alternatives such as biofuels, solar, wind, and hydrogen. Collectively, these measures can improve resilience, enhance competitiveness, and ensure long-term sustainability of Zimbabwe’s oil industry.