Dar es Salaam – (Reuters/NAN) Tanzania’s energy regulator on Monday raised the prices of both diesel and kerosene in east Africa’s second-biggest economy, citing a weaker local currency, but slightly lowered the price of petrol.
The Energy and Water Utilities Regulatory Authority (EWURA) raised the retail price of diesel 2.58 per cent and increased the price of kerosene 2.35 per cent.
Petrol prices were lowered 1.12 per cent in the latest price caps that take immediate effect.
“The price changes have been caused by changes in world market prices and a depreciation of the Tanzanian shilling compared to the U.S. dollar,” EWURA said in a statement.
EWURA lowered the price of petrol in the commercial capital Dar es Salaam by 23 shillings to 2020 shillings (1.17 dollars) per litre and increased that of diesel in the capital by 51 shillings to 2,034 shillings per litre.
Kerosene in the commercial capital rose by 46 shillings to 2,021 shillings per litre.
The energy regulator introduced a new formula for calculating fuel prices in August in line with a government pledge in its 2011/12 budget in June to cut prices to tackle the rising cost of living.
The country is grappling with rising inflation, which has been on an upward trend for the past 12 months, with year-on-year inflation hitting 17.9 per cent in October from 16.8 per cent in September on escalating food and fuel prices.