Tanzania cuts fuel pump prices over oil slump

Tanzania’s energy regulator on Thursday cut the retail prices of petrol, diesel and kerosene due to the global oil price slump, in a move likely to further ease inflationary pressures.

 Fuel prices have a big effect on inflation in East Africa’s second-largest economy.

 The Energy and Water Utilities Regulatory Authority (EWURA) slashed the maximum retail price on a litre of petrol by 6.83 per cent to 2,029 shillings ($1.1634) in the capital Dar es Salaam.
  It also slashed that of diesel by 5.85 per cent to 1,909 shillings per litre.

 The price of kerosene was reduced by 7.16 per cent to 1,888 shillings per litre.

“his notable drop in retail and wholesale local prices has been caused by a continued trend of falling world oil market prices and a decrease in the supplier’s premium.

“Prices would have dropped further had it not been for the depreciation of the Tanzanian Shilling against the U.S. dollar,” authority said in a statement.

 The price adjustments took immediate effect and would stay in place for one month, the statement added Tanzania’s year-on-year inflation fell to 5.9 per cent in October from 6.6 per cent the previous month.

One U.S. dollar is exchanged for 1,744.0000 Tanzanian shilling.

Comments

Post a Comment

Popular posts from this blog

#HealthMonday: The challenge of lung cancer

Image
The challenge of lung cancer November marks lung cancer awareness month. Lung cancer is a leading cause for cancer deaths in the world and is strongly correlated with smoking. Although the rates of lung cancer in sub-Saharan Africa is lower vs. the rest of the world, it is still important to discuss especially as the rates of tobacco use in Africa is on the rise - if the smoking rate continues to climb, dealing with tobacco-related illnesses such as lung cancer will become more common. Furthermore, secondhand smoke causes lung cancer in people who have never smoked themselves. Symptoms Lung cancer may not produce any noticeable symptoms in the early stages. In many people diagnosed with lung cancer, diagnosis is made after the disease has advanced. As many of these symptoms are general, many people don't suspect lung cancer. And by the time they see a doctor, often the cancer has already started to spread. Risk factors While the
Read more

Steps towards healthy, Handsome skin - Men’s skin care

Image
  Step 1 – Cleanse If you can’t find the time to do anything else – cleansing your skin is a must! Don’t worry guys; cleansing is just a fancy word for washing your face. This should be done every morning and every evening before bedtime. Just because you can’t see the dirt and grime on your skin, doesn’t mean that it isn’t there. Step 2  – Exfoliate Men, if you really want to see and feel a difference in your skin this next step is for you. Exfoliation is the process of removing the dead skin cells frm the surface 2 reveal the new skin cells beneath. Think of an exfoliating scrub the same way u would a piece of light grade sandpaper.
Read more

Nigeria News Headlines - May 30, 2013

·          Mimiko, Nwayanwu fault video clips on NGF election ·          Artisan groups back Fayemi’s re-election bid ·          Serving a hated administration earned me conviction –Al-Mustapha ·          No better option to democracy – Obada ·          Nigeria will overcome its challenges —Govs ·          Probe shooting of Kwara poly student – Belgore ·          2015: Ladoja, Alao-Akala set up 10-member committee ·          Mimiko wants 3-hour recording of NGF election released ·          Tragedy in Bayelsa: 20 feared killed in auto crash ·          Reps probe Ministry of Works over N200bn abandoned projects...another N17bn mobilisation fees on un executed contracts ·          Ex-militants give amnesty office 2-week ultimatum ·          Dana crash: NASS expresses dissatisfaction over compensations ·          NLC honours Oyerinde, immortalises Bafyau, Imoudu ·          Gov aspirants hijack Democracy Day in Benue ·          Nigeria lost more than 10% pe
Read more