Tanzania hikes retail fuel prices to reflect rising crude oil cost
REUTERS/ Tanzania’s Energy and Water Utilities Regulatory Authority raised maximum retail prices of fuel during the weekend due to higher international crude oil and refined product prices, a move likely to exert upward pressure on inflation. Fuel prices have a big effect on the country’s inflation rate, which slowed to 4.5 per cent year-on-year in September from 4.9 per cent the previous month. The EWURA raised the retail price of petrol by 1.8 per cent and the price of diesel by 1.25 per cent. Maximum kerosene prices were raised 0.64 per cent in the latest monthly price caps. There is an increase in prices of petroleum products in the world market.