January 3, 2018 / 11:01 AM / 10 months ago

Tanzania increases fuel prices due to rising crude costs

DAR ES SALAAM, Jan 3 (Reuters) - Tanzania’s energy regulator raised the maximum price for petrol, diesel and kerosene on Wednesday, citing rising international crude oil prices.

Fuel prices have a big influence on the inflation rate in the East African country. In the 12 months through November inflation eased to 4.4 percent, from 5.1 percent the previous month, but the fuel price hikes could push the inflation rate up again, analysts said.

Tanzania’s Energy and Water Utilities Regulatory Authority (EWURA) raised the maximum retail price of petrol by 0.35 percent and increased the cap for diesel by 1.71 percent.

The maximum kerosene price was lifted 4.57 percent in the latest monthly price decisions, which take immediate effect.

“The changes in local prices of petroleum products are mainly due to changes in world oil market prices and bulk procurement system (BPS) premiums,” EWURA said in a statement.

The regulator increased the price of petrol in the commercial capital Dar es Salaam by 8 shillings per litre to 2,167 shillings ($0.9709), and the price of diesel in the capital by 34 shillings to 2,018 per litre.

Kerosene prices in the city rose 89 shillings to 2,031 shillings per litre.

$1 = 2,232.0000 Tanzanian shillings Reporting by Fumbuka Ng'wanakilala; Editing by Aaron Maasho and Susan Fenton

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