Oil & Gas

The Energy and Water Utilities Regulatory Authority (EWURA) has announced new cap prices for petroleum products in Tanzania Mainland, effective from Wednesday, 6th November 2024. The updated prices apply to key regions including Dar es Salaam, Tanga, and Mtwara, and cover both retail and wholesale markets. EWURA has reminded retailers and wholesalers that they must comply with the new price caps or face legal consequences. Retailers are also required to display petroleum prices clearly at their stations and issue receipts for all sales to ensure transparency.

These price updates are based on trends in the international oil market and fluctuations in the exchange rate. In November 2024, the Free on Board (FOB) prices for petroleum products from the Arab Gulf market showed increases compared to the previous month, while premiums on petrol and diesel varied across different ports in Tanzania. The changes in the premium rates reflect shifts in the global market, impacting the cost of importing refined petroleum products.

The Tanzanian Shilling's depreciation by around 1.75% in November 2024 also played a role in the adjustments to the cap prices. EWURA continues to monitor both the international oil market and exchange rates to ensure that cap prices are aligned with global trends while protecting consumers from extreme price fluctuations. The regulatory body has also emphasized that the public can access these price updates via mobile phone services, providing an easy way to stay informed.

EWURA encourages competition within the petroleum sector by allowing oil marketing companies to sell products at competitive prices, as long as they stay within the designated price cap. The authority has reminded petrol stations to ensure that all prices are visibly displayed and that consumers receive receipts for every transaction. These measures are designed to ensure that the petroleum pricing system remains fair and transparent, with legal actions in place to uphold compliance.

For a full list of updated petroleum prices across various towns and regions, please visit the official EWURA website or access the details via the provided link http://www.ewura.go.tz/wp-content/uploads/2024/11/Cap-Prices-for-Petroleum-Products-November-2024-English.pdf .