January 3, 2012

Hopes dashed as fuel prices go up

Hopes that the newly introduced system of bulk fuel procurement would make petroleum products cheaper have been dashed. As an announcement by the Energy & Water Utilities Regulatory Authority of Tanzania (Ewura) shows, their prices have risen slightly. According to the announcement, consumers will pay more for diesel, petrol and kerosene under a new price formula. The Ewura statement said the revised price formula would be applicable to the bulk petroleum procurement system in Tanzania Mainland. Furthermore, the prince increas work out as a Sh74 increase for petrol, Sh1 for diesel and Sh5 for kerosene. According to the statement, fuel dealers are allowed to fix prices of their choice as a customer-attracting move, so long as they don’t exceed the indicative prices. “Wholesalers, retailers and service providers are free to sell petroleum products at any price below the indicative price depending on how they do business but they should avoid selling fuel above the price cap,” reads part of the statement. (The Citizen)

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