Relief to oil consumers as prices fall

> The Energy and Water Utilities Regulatory Authority (Ewura) yesterday announced a significant reduction in fuel prices.

Oil prices have decreased. The fall follows changes in the world market.It has been difficult for petrol users in the last three months as its price escalated.

Tanzania’s annual headline inflation decreased to 4 per cent in January from 4.8 per cent recorded in December pushed by a decrease of oil prices.

Prices of petroleum products have been going down in Tanzania as the country responds to the declining global prices. However, the price drops make little sense to Iliyasa Haji, a resident of Mbezi and a supplier of Irish potatoes to Mabibo and Mbagala markets.

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>East African countries are unlikely to significantly benefit from falling global oil prices due to inadequate storage facilities, according to the study by Deloitte East Africa.

>Local consumers will pay Sh187 less on every litre of petrol they purchase as the regulator cuts the charges in response to declining global prices. In a move that should trigger a drop in prices--or at least demand for cuts in charges for products and services linked with petroleum as fuel--the Energy and Water Regulatory Authority (Ewura) capped the price for petrol at Sh1,768 per litre in Dar es Salaam.

>Energy and Water Utilities Regulatory Authority (Ewura) yesterday told a parliamentary committee that since 40 per cent of the pump charges in Tanzania comprises taxes, the unprecedented price fall of crude oil at the world market will be of minimal relief to consumers in the country.

Local consumers will pay Sh116 less on every litre of petrol they purchase in Dar es Salaam as the regulator cuts the charges further in response to declining global prices.