Why fuel prices still going up

TANZANIA: Reduction of production of petroleum products by Organization of the Petroleum Exporting Countries (OPEC+) and economic sanctions imposed on Russia have continued affecting fuel prices in East African countries, including Tanzania.

A public notice on cap prices for petroleum products issued by Tanzania’s Energy and Water Utilities Regulatory Authority (EWURA) on Wednesday noted that the mentioned two factors plus others have caused changes in prices of petroleum products in October 2023.

According to the regulator, the world oil price has increased by up to 4.21 per cent, an increase in premiums for the importation of petroleum products by up to 17 per cent for Premium Motor Spirit (PMS) and 62 per cent for Automotive Gas Oil (AGO).

Due to the increase of fuel prices, EWURA announced the newly published cap prices for petroleum products, applicable in Tanzania Mainland effective from Wednesday, 4th October 2023 at 12:01 am indicates the precious liquid prices have increased.

After publishing October’s cap prices for petroleum products, EWURA reminded dealers to publish petroleum product prices on clearly visible boards.

“The price boards should clearly show prices charged, discounts offered, and any trade incentives or promotions on offer. Consumers are encouraged to purchase from stations that sell products at the most competitive prices and offer better services. It is an offence not to have prices published on boards located in clearly visible places in front of petrol stations. Failure to adhere to this directive will attract punitive measures from EWURA,” a statement insisted.

In October, a litre of petrol will be sold in Dar es Salaam for 3,281/-, up from 3,213/- announced last month while diesel will be available for 3,448/- per litter while kerosene will be sold for 2,943/- per litre.

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