Tanzania confirms oil prices drop in July

DODOMA: THE Minister for Energy, Deogratius Ndejembi has said Tanzanians will start witnessing a drop in oil prices from July this year following the start of a drop in crude oil prices in the world market after the cessation of hostilities in the Middle East.

Responding to the directive of Bagamoyo Constituency Member of Parliament and Chairperson of the Parliamentary Standing Committee on Energy and Minerals, Subira Mgalu, in Parliament in Dodoma today, June 26, 2026, Ndejembi said the Government has directed EWURA, TPDC and PBPA to ensure that the benefits of the drop in global prices reach consumers in the country.

He said despite the effects of the war between Iran, Israel and the United States that caused disruptions in the transportation of oil through the Strait of Hormuz, Tanzania continued to have secure access to oil without experiencing shortages.

Ndejembi said the swift steps taken by the Government ensured that fuel was available in all parts of the country, with Tanzania continuing to have cheaper fuel prices compared to some of its East African neighbours.

He said that after the ceasefire agreement, the price of crude oil has started to fall to around $70 per barrel, a situation that is expected to continue to bring relief to the domestic market as new cargoes of fuel purchased at lower prices enter the country.

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“Tanzanians will start to see a price reduction from July, and as new cargoes of cheaper fuel continue to arrive, prices will continue to fall,” he said.

He also said that global market experts expect within eight to 10 weeks that fuel prices will return to the levels that existed before the crisis began in February this year.

Minister Ndejembi added that the government will continue to monitor global market trends while strengthening long-term strategies including increasing sources of oil imports and accelerating the construction of an oil refinery in Tanga region to enhance energy security in the country.