Study: Why EAC states won’t enjoy fall in oil prices

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.

This year has started with relief to fuel consumers as the regulator announced lower prices for petrol, diesel and kerosene through January.

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 Community (EAC) partner states have to design fiscal regimes which will enable them to manage their oil and natural gas wells, it was observed here on Wednesday.

Most Tanzanians are optimistic about the future of oil and gas but some are worried that the government and the rich will benefit the most, a survey shows.

Tanzania’s annual headline inflation rate decreased to 5.9 per cent in October 2014, from 6.6 per cent recorded in September as the speed of food prices went down during the month, National Bureau of Statistics (NBS) announced in Dar es Salaam yesterday.

Consumers will have to wait a bit longer than expected until the system of generating power from natural gas stabilises before electricity tariffs are lowered.

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