The cost of living for Tanzanians is set to rise as the government recently unveiled a 17% surge in fuel prices.
This surge is primarily attributed to the scarcity of the US dollar, which has exerted considerable pressure on the fuel market.
James Mwainyekule, the Director General of the Energy and Water Utilities Regulatory Authority (EWURA), shed light on the situation.
He explained that the appreciation of the US dollar has been spurred by a shortage of petroleum products, leading to an uptick in ceiling prices. Consequently, this has dealt a blow to the cost of importing vital resources into Tanzania.
These factors encompass challenges related to the availability of US Dollars, shifts in the fuel levy, global petroleum product prices, and adjustments in premiums linked to petroleum product imports.
As a result of these changes, the retail price of petrol will now stand at Sh3,199 (equivalent to Sh186.46) per liter, a notable increase from the previous Sh2,736 (Sh159).
The cost of diesel has also experienced an upward revision to Sh2,935 (Sh171) per liter, up from Sh2,544 (Sh148).
Conversely, kerosene has seen a marginal decrease in price, moving from Sh2,829 (Sh164.89) to Sh2,668 (Sh155) per liter. This adjustment in fuel prices is poised to impact the daily lives of Tanzanians, requiring them to allocate additional funds to cover essential expenses.
