Tanzania raises petrol, diesel prices, kerosene edges down

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DAR ES SALAAM (Reuters) – Tanzania’s energy regulator raised the maximum retail prices of petrol and diesel on Wednesday, citing rising costs of petroleum imports, but cut the price of kerosene. Fuel prices have a big effect on inflation and the local currency in East Africa’s second-biggest economy, which relies on oil imports for transport and power generation. The Energy and Water Utilities Regulatory Authority (EWURA) raised the retail price of petrol by 0.53 percent and diesel by 3.10 percent. Kerosene prices were cut by 1.04 percent in the latest monthly caps, which take immediate effect. “The increases in petrol and diesel local pump prices have been caused by increases in the world oil market prices and bulk procurement system (BPS) premiums,” EWURA said in a statement.

”The decrease in kerosene prices is mainly due to a decrease in BPS premiums despite an increase in the world oil market prices,” it said. EWURA raised the price of petrol in the commercial capital Dar es Salaam by 10 shillings to 1,989 shillings ($0.89) per litre and that of diesel by 57 shillings to 1,887 shillings per litre. Kerosene in the commercial capital fell 19 shillings to 1,811 shillings per litre. Tanzanian inflation slowed to 5.2 percent year-on-year in July from 5.4 percent a month earlier, due to slower rises in food and fuel prices.

($1 = 2,234.0000 Tanzanian shillings)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.