International Oil Market Forces Tanzania To Increase Petrol, Diesel Prices

Tanzania was forced to increase the prices of petrol and diesels in the country on March 1 due to increase in the prices of crude and refined products in the international market and also weaker in local currency lately.

Later this month a revised rate will be issued by the country’s energy regulator the Energy and Water Utilities Regulatory Authority (EWURA).

Fuel prices play an important role in the inflation rate of the country. In February this year the rate rose by 5.5 percent year-on-year from 5.2 percent in 2016.

EWURA said the monthly fuel cap prices will be same as of now that was revised on March 1 and new prices will be issued this month.

The authority added rise in retail prices of petrol and diesel is lined to the increase of world oil market prices, continued depreciation of shilling and hike of bulk procurement system premiums.

It further continued the price of petrol in the commercial capital Dar es Salaam by 102 shillings a litre to 2,060 shillings while the price of diesel was up by 51 shillings to 1,913 shillings.