November 1, 2017 / 4:03 PM / a year ago

Tanzania's fuel prices rise on weaker currency, crude costs

DAR ES SALAAM, Nov 1 (Reuters) - Tanzania’s energy regulator raised the maximum price for petrol, diesel and kerosene on Wednesday to reflect higher crude prices and a weaker local currency, in a move likely to lift inflation.

Fuel prices have a big influence on the inflation rate in East Africa’s second biggest economy, which rose to 5.3 percent in the 12 months through September from 5.0 percent the previous month.

Tanzania’s Energy and Water Utilities Regulatory Authority (EWURA) raised the maximum retail price of petrol by 2.69 percent and increased the cap for diesel by 2.43 percent.

The maximum kerosene price was lifted 4.35 percent in the latest monthly price decisions, which take immediate effect.

“The increases in local prices have been caused by increases in world oil market prices and the depreciation of the Tanzanian shilling against the U.S. dollar,” EWURA said in a statement.

The regulator increased the price of petrol in the commercial capital Dar es Salaam by 55 shillings ($0.0246) per litre to 2,118 shillings, and the price of diesel in the capital by 46 shillings to 1,954 shillings per litre.

Kerosene prices in the city rose 81 shillings to 1,939 shillings per litre.

$1 = 2,239.0000 Tanzanian shillings Reporting by Fumbuka Ng'wanakilala; Editing by Aaron Maasho and Mark Potter

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