Tanzania fuel prices drop in September
What you need to know:
- The Energy and Water Utilities Regulatory Authority (EWURA) announced the decrease of retail and wholesale fuel prices effective from Wednesday September 4, 2024, showing that petrol, diesel and kerosene prices have dropped by an average of 3.6 percent compared to August this year.
Dar es Salaam. Tanzanian motorists will experience a relief in September as fuel prices dropped significantly to reflect the trend of the global prices which are already under pressure.
The Energy and Water Utilities Regulatory Authority (EWURA) announced the decrease of retail and wholesale fuel prices effective from Wednesday September 4, 2024, showing that petrol, diesel and kerosene prices have dropped by an average of 3.6 percent compared to August this year.
According to a statement signed by the Ewura director general, Dr James Mwainyekule, the retail petrol price dropped by from Sh3,231 per litre in August to Sh3,140 in September while that of diesel decreased from Sh3,131 to Sh3,011 in Dar es Salaam.
The price of kerosene also dropped from Sh3,257 to Sh3,121 per litre, Ewura stated.
The prices reflect a global trend in which oil prices decreased.
“In September 2024, petroleum products cap prices are based on FOB prices that prevailed in August 2024. Compared to July 2024, the August FOB prices of petrol, diesel and kerosene decreased on average by 7.68 percent, 6.22 percent and 6.20 percent, respectively,” said Dr Mwainyekule in the statement.
According to the statement, the premiums for the importation of petroleum products decreased by an average of 10.55 percent for petrol and 13.64 percent for diesel and an increase in premium by an average of 3.37 percent for kerosene at Dar es Salaam Port.
The premiums decreased by 4.46 percent for petrol and diesel at Tanga Port while they decreased by an average of 14.98 percent for petrol and diesel at Mtwara Port.
Oil prices face pressure from slow China demand and inventory rise, according to Reuters poll.
Analysts have lowered their 2024 oil price outlook due to weak fuel demand from leading importer China and rising inventory levels as Saudi Arabia and OPEC+ allies prepare to ease some output cuts from October, the poll found.
The poll of 37 analysts and economists surveyed by Reuters last month forecast Brent crude would average $82.86 per barrel in 2024, a fourth straight cut in estimates, from $83.66 forecast in July.
Cities vary
The retail and wholesale prices of petroleum products vary depending on the distance from the coast and the city of Tanzania in which the ports are located.
Currently, Dar es Salaam, Tanga and Mtwara ports are used to import fuel to serve different regions.
