Motorists should brace for more expensive fuel as the Energy and Water Utilities Regulatory Authority (EWURA) hiked retail and wholesale prices for petrol, diesel and kerosene due to soaring global prices for petroleum products.
Effective today retail prices for petrol in Dar es Salaam will be sold at 1,890/- per litre up from 1,860/- while prices for diesel will be 1,798/- per litre from 1,720/-. Kerosene prices have also gone up to 1,737/- per litre from 1,663/-, the energy regulator announced yesterday.
To a large extent, the continued increases in the local market prices have been caused by the increase of prices of petroleum products in the world market, Ewura said in a public notice. The authority said retail prices for petrol have gone up by 29/- per litre or 1.59 per cent, diesel by 78/- per litre or by 4.53 per cent and kerosene by 68/- per litre or 4.8 per cent.
Wholesale prices for petrol by 29/- per litre or 1.68 per cent, while diesel and kerosene have also increased by 78/- per litre or 4.84 per cent and 68/- per litre or 4.36 per cent respectively.
Fuel dominate import bill in Tanzania and its prices have a big impact on the inflation rate, which remained at 4.5 per cent year-on-year in October, unchanged from September, according to the National Bureau of Statistics (NBS).
Tanzania as a net importer of fuel has benefitted from a large fall in the global price of oil since mid-2014 as it led to reduced fuel pump prices which meant more disposable income for consumers and reduced costs for producers.
Fuel prices are set rise after the Organisation of the Petroleum Exporting Countries (OPEC) - a group of some of the biggest oil producers in the world - agreed a deal to cut production last week.
OPEC agreed to cut production by about 1.2 million barrels per day or about 4.5 per cent of current production, to 32.5 million barrels per day. Analysts broadly expect an agreement to boost oil prices above $50 a barrel and keep them there. Prices have wavered between about $40 and $54 before the deal was agreed.
Daily News
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