SEE THE DIFFERENCE BETWEEN A MEDIOCRE AND A GENIUS-TANZANIA REDUCES FUEL PRICE DUE TO FALL IN GLOBAL OIL PRICE DAR ES SALAAM (Reuters) - Tanzanias energy regulator cut on Thursday 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 Africas second-biggest economy. The Energy and Water Utilities Regulatory Authority (EWURA) slashed the maximum retail price on a litre of petrol by 6.83 percent to 2,029 shillings ($1.1634) in the capital Dar es Salaam and that of diesel by 5.85 percent to 1,909 shillings per litre. The price of kerosene was reduced by 7.16 percent to 1,888 shillings per litre. This 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, EWURA said in a statement. Prices would have dropped further had it not been for the depreciation of the Tanzanian Shilling against the U.S. dollar. The price adjustments take immediate effect and will stay in place for one month. Tanzanias year-on-year inflation fell to 5.9 percent in October from 6.6 percent the previous month. (1 US dollar = 1,744.0000 Tanzanian shilling) (Reporting by Fumbuka Ngwanakilala; Editing by Duncan Miriri and William Hardy) Email Article Next Article in Top News Courtesy I, Taiwo Search | Quotes | V
Posted on: Fri, 05 Dec 2014 21:48:38 +0000
Trending Topics
Recently Viewed Topics
© 2015