By Azania Post Reporter
ECONOMIC situation in Tanzania is likely to become hard due to a recent rise in retail prices of fuel in many areas countrywide.
Fuel is one of main factor which determine prices of various goods and services in Tanzania, hence any change would likely affect the transportation sector.
Quick survey carried by Azania Post shows that retail prices of fuel in Temeke, Ilala and Kinondoni districts has increased.
In Temeke price of one litre of petrol at GBP is now stand at 2060/- from 1980/- sold last week , while in Ilala( Oil com petrol stations ) the pump price is sold at 2020 /- per litre up from 1890/- sold last week. The Total Petrol station at Kinondoni area sell one litre of petrol at 2063/- as compared with 1950/- sold last week.
According to Energy and Water Utilities Regulatory Authority (EWURA) retail and wholesale prices for all petroleum products have increased compared to prices that were published on 6thSeptember2017.
For the month of October2017, retail prices of Petrol, Diesel and Kerosene have increased by shillings 74/litre (equivalent to3.72%), shillings 21/litre (equivalent to1.11%)and shillings 47/litre equivalent to 2.61%) respectively.
Similarly, compared to the last month publications, wholesale prices of Petrol, Diesel and kerosene have also increased by shillings 74.07/litre equivalentto3.94%), shillings 20.94/litre(equivalent to1.18%) and shillings 47.22(equivalent to 2.78%) respectively.
The increase in local prices have been caused by the increases in the world oil market prices and depreciation of the Tanzanian Shilling against the United States Dollar, the currency used in the procurement of petroleum products
In line with the prevailing sector legislation(Petroleum Act,2015, section 166), prices of petroleum products are governed by rules of demand and supply.
EWURA shall continue to encourage competition in the sector by making available petroleum products pricing information including cap prices.
This information on prices is intended to enable stakeholders make informed decisions on petroleum prices at any particular time.