5 June 2014

Tanzania: EWURA Reviews Fuel Prices - Slightly

MOTORISTS and other fuel users will have to dig deeper into their pockets following a price hike of 0.44 per cent just announced by the Energy and Water Utilities Regulatory Authority (EWURA).

According to cap prices for petroleum products released by the regulator, kerosene users will continue to feel the pinch as retail price of the commodity has also gone up by 0.9 per cent.

Motorists using gasoline and kerosine from the most remote areas in the country will be forced to pay more compared to those in Dar es Salaam.

For example, in Lugufu, Uvinza District in Kigoma Region, the retail prices for petrol and kerosine have increased to 2,453/- and 2,289 per litre compared to 2,210 and 2,046 respectively in Dar es Salaam Region.

Similarly, in Kyerwa District in Kagera Region, the retail prices for petrol and kerosene have increased to 2,447/- and 2,283/- while in Karagwe (Kayanga) District it jumped to 2,442/- and 2,277/- respectively.

The changes of prices for petrol and kerosene are contributed by the increment in the world market coupled by the depreciation of Tanzanian shilling against the US dollar.

The market remains unfavourable for the shilling, with the continued pressure by the dollar on the local currency seen starting this week, pushing the pair above the 1,660 level.

The last trading session of the month of May saw the shilling losing ground further against the dollar to new alltime lows since the beginning of the year.

"Piled up demand from oil importers and other manufactures with little month end flows caused the shilling to depreciate to 1,642/1,692 levels with expectation of the situation to persist throughout this week," stated the NMB e-market report.

However, motorists using gas oil will get a relief following a price cut by 0.73 per cent, equivalent to 16/- per litre, the situation expected to bring about certain stability in the transport cost and prices of various goods.


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