While the government of Nigeria is thinking of ways to increase the price and pain of the average Nigerian of petrol, the Tanzanian government has decided to reduce the price of petrol in accordance with the current price of petrol in the world market.
According to Thisday..........
Tanzania's energy regulator on Monday lowered the price of petrol, but raised the prices of both diesel and kerosene, reflecting global prices and the marginal strengthening of the local currency in east Africa's second-biggest economy.
The Energy and Water Utilities Regulatory Authority (EWURA) lowered the retail price of petrol by 1.51 percent and raised the retail price of diesel by 2.0 percent and of kerosene by 1.34 percent.
Rising food and
more after the jump
fuel prices pushed Tanzania's year-on-year inflation rate to 17.9 percent in October from 16.8 percent a month earlier, according to Reuters report.
The prices take immediate effect from today. The regulator issues fuel cap prices every two weeks.
"The price changes have been caused by changes in world market prices and the slight appreciation of the Tanzanian shilling against the U.S. dollar," EWURA said in a statement.
EWURA lowered the price of petrol in the commercial capital Dar es Salaam by 30.54 shillings to 1,990 shillings per litre, and increased that of diesel in the capital by 40.74 shillings to 2,075 shillings per litre.Kerosene in the commercial capital rose by 27.10 shillings to 2,049 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.
