Fuel prices hit new record high despite Government subsidy

Motorists should brace themselves for tougher times ahead following an increase in price of the commodity announced by the Energy and Water Utilities Regulatory Authority (EWURA) with effect from today.

Fuel prices have continued to escalate in Tanzania even after Government’s efforts to mitigate the prices following a 100bn/- subsidy.

The new cap prices announced by EWURA indicate that the retail petrol price has risen by 190/-in Dar es Salaam with effect from today to 3,410/- per liter while diesel also risen by 179/- to 3,322/- per liter.

A spot check by The Business Wiz indicated that motorists in Geita region will pay the highest prices that is 3,755/- and 3,900/- per liter for petrol and diesel respectively.

The increase in pries follows an increase in the world market thus causing fuel prices in the local market to increase as well.

This means that a ten thousand note will command less than three liters across all retail outlets across the country

But according to statement by EWURA, the Government intervention of issuing a 100bn/- subsidy has reduced the petroleum products prices for August 2022.

According to EWURA, without the subsidy, motorists 3,630 for petrol and 3,734 respectively for diesel during the month of August.

“Oil marketing companies are free to sell their products at a price that gives them a competitive advantage provided that, such price does not exceed the price cap and is not below the floor price for the relevant product,” the energy regulator said in a statement.

EWURA encouraged consumers to purchase from stations that sell products at the most competitive prices and offer better services