The ability of Rhizopus oryzae to produce fumaric acid in the presence of glycerol and/or various monosaccharides as carbon sources was examined for seventeen different strains of this fungi. These strains were tested in shake-flask cultures on media containing glycerol and seven different carbohydrates, including glucose, fructose, galactose, mannose, xylose, arabinose, and rhamnose. An interesting and applicationally useful phenomenon was observed. This work presents a new approach to the conventional microbiological method of producing fumaric acid. In the presence of 40 g/l glycerol as the sole carbon source, fumaric acid production reached 0.16–6.1 g/l after 192 h. When monosaccharides were used as a single carbon source, the maximum fumaric acid concentration was much higher; for example, 19.8 g/l was achieved when 40 g/l xylose was used. In the co-fermentation of xylose (40 g/l) and glycerol (20 g/l), post-culture broth contained approx. 28.0 g/l of fumaric acid with a process yield of 0.90 g/g after 168 h. The production of fumaric acid by Rhizopus oryzae was also increased in the dual presence of glycerol and monosaccharides like fructose, galactose, and mannose. However, results obtained on glucose-glycerol-based medium did not follow this trend, showing instead complete utilization of glucose with significant glycerol consumption, but unexpectedly low final amounts of fumaric acid and process yields. Understanding how Rhizopus oryzae utilize various carbon sources may provide alternative avenues of fumaric acid fermentation.