Motorists in Tanzania will face a significant increase in fuel prices as the existing shortage of the United States dollar has led to a surge of 17 percent in fuel costs. The Energy and Water Utilities Regulatory Authority (Ewura) reported that the cap prices for petroleum products have risen due to the dollar’s scarcity, resulting in a higher cost of importing fuel.
Retail prices for petrol imported through the port of Dar es Salaam will now be Sh3,199 per litre, while diesel prices have increased to Sh2,935 per litre. However, kerosene prices show slight relief with a decrease to Sh2,668 per litre.
The Energy and Water Utilities Regulatory Authority (Ewura) reported higher import costs for fuel, resulting in increased retail prices for petrol and diesel. Motorists will face financial strain as they have to pay more at the pump. Finding solutions to stabilize fuel prices and address the dollar shortage will be essential to promote economic stability in Tanzania.
Opinion:
The 17 percent increase in fuel prices in Tanzania is a direct consequence of the existing shortage of the United States dollar. As the value of the dollar rises, it leads to higher import costs for fuel, which ultimately impact the retail prices for motorists. This surge in fuel prices may result in financial strain for consumers and businesses, potentially affecting overall economic activity in the country. Addressing the dollar shortage and finding measures to stabilize fuel prices will be crucial to alleviate the burden on motorists and promote economic stability.