Sumatra to review fares following fuel price drop

>The Surface and Marine Transport Authority (Sumatra) yesterday dashed hopes of lower transport costs even as a commuter lobby group was petitioning the government to compel the agency to act.

Tanzanians will get a relief today when they wake up to find out that fuel prices have gone down as the regulator cuts them down. That is in response to declining global prices and a stabilising local currency.

BBC News
Clove price drop hits Tanzanian farmers
BBC News
Cloves are a vital ingredient in many spicy dishes, and particularly popular in Europe around Christmas time. But the farmers who produce them have seen dramatic price falls recently. Clove farmers in Tanzania are calling for more government help to sustain ...

There is a close link between fuel prices and the cost of other products and services in any given economy. Food and non-alcoholic beverages account for a 47.8 per cent weighting in the basket of goods upon which the rate of price rises (inflation) is computed in Tanzania--the consumer price index. Most of these products need to be transported to the market.

Nigeria is Africa's largest oil producer and the drop in oil prices around the world has hit the cost of living.

Tougher government terms that will squeeze corporate rewards, not the sharp crude price drop, are the more potent threat to east Africa’s oil boom.

>As global oil prices continue to fall, with the latest projections putting a barrel at below $46 by April, consumers in East Africa are paying lower but contrasting prices.

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