Tan­za­nia hikes re­tail fuel prices to re­flect ris­ing crude oil cost

The Star (Kenya) - - News Business -

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.

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