The Energy and Water Utilities Regulatory Authority (EWURA) has announced new prices for petrol, diesel, and kerosene effective Wednesday, March 6, 2024.
The prices of petrol and diesel have risen both at retail and wholesale levels. For instance, in Dar es Salaam, petrol has increased from TZS 3,051 to TZS 3,163. This represents a hike of TZS 112 per liter. Diesel has surged from TZS 3,029 to TZS 3,126, indicating an increase of TZS 97 per liter.
In Tanga, petrol has climbed from TZS 3,064 to TZS 3,209, while diesel has reached TZS 3,196 from TZS 3,173. In Mtwara, petrol has reached TZS 3,112 from TZS 3,155, but diesel has decreased to TZS 3,070 from TZS 3,354.
Arusha has seen petrol rise to TZS 3,247 from TZS 3,120, while diesel has dropped to TZS 3,211 from TZS 3,252.
According to EWURA, the price changes for March 2024 are driven by a rise in refined oil prices in the global market (FOB) by an average of 4.5% for petrol and 1.99% for diesel.
Contrary to the norm, EWURA says another reason for the increase in energy prices is the use of the EURO in paying for imported fuel.
Many countries primarily hold US dollars due to its use in international transactions by more than 86%, sellers' demand for Euros has undoubtedly posed a challenge or led to higher costs for buyers to purchase the currency of the European Union.
Additionally, EWURA notes that the current fuel prices are affected by the rise in importation costs (premiums) at the Dar es Salaam Port by an average of 15.38% for petrol and 40.41% for diesel, and at the Mtwara Port by an average of 7.61% for both petrol and diesel.
Analysts had expected fuel importation costs to increase due to the current challenges in transportation between the Middle East and other areas using the Red Sea.
For all prices in different regions, check the table below, and for the full article, go to the EWURA website; https://www.ewura.go.tz/wp-content/uploads/2024/03/Cap-Prices-for-Petroleum-Products-WEF-6th-March-2024-Cap-prices-English-.pdf
