The government of Tanzania has announced a reduction in fuel prices at a time when Kenya was planning to raise the fuel prices even higher.
In a press statement, the Tanzania government announced that the drop in the price of fuel was effective from November 1, 2023.
Tanzania’s Energy and Water Utilities Regulatory Authority (EWURA) noted that the drop in the cost of petroleum products was attributed to the decrease in world oil prices by 5.68 percent.
“Changes in prices of petroleum products in November 2023 are mainly due to the decrease in the world oil price by an average of 5.68%,” read part of the statement by EWURA.
EWURA further noted that the price of petrol reduced due to a decrease in premiums for the importation of petroleum products by an average of 13% for PMS and 25% for AGO.
Additionally, the fall in prices was associated with the reduction of production of petroleum products by OPEC and economic sanctions on Russia.
On the other hand, the Orange Democratic Movement (ODM) has called on the Kenyan government to reduce the cost of petroleum products in the country.
“The government of Tanzania has reduced the price of petroleum products due to the decrease in the world oil price by an average of 5.58%.
“This is a good gesture that needs to be emulated by her neighbours, especially Kenya,” read part of the ODM statement.
ODM released a statement after Energy CS Davis Chirchir on October 6, revealed that the price of petrol would increase to Ksh300 per liter.
Chirchir had explained that the Israel-Hamas conflict may lead to an increase in global fuel prices, leading to higher prices in Kenya.