Prices for Petroleum products skyrocket further

Vehicle owners will now pay more on every litre of petrol they purchase as the petroleum regulator raises prices for the products in response to a depreciating local currency and increasing global prices.

The Energy and Water Utilities Regulatory Authority (Ewura) in its monthly pricing formula released on Wednesday reveals that Motorists will have to pay Sh101.54 more per every litre of Petrol in March. Diesel users will also pay Sh51.44 more per every litre.

With the latest prices, a litre of petro will now be sold at between Sh2060 in Dar es Salaam and Sh2291 in Uvinza (Lugufu)

While the price of Petrol and Diesel has gone up, that of Kerosene has remained the same as February.

Ewura Director General Felix Ngamlagosi attributes the changes to a surge in international prices and increased importation charges.

“Depreciation of the local currency is also to blame for the increased prices,” says Mr Ngamlagosi in a statement.

He said that at the world market every petroleum product has different prices reflected by demand and supply “so the variation on prices is directly associated by the world market prices.”

The purpose of pricing regulations is to cap pump costs of products which are already in the country such that importation and other incurred costs are recovered while ensuring fair prices to the consumers.

According to Ewura oil marketing companies are free to sell their products at a price that give them competitive advantage, provided that such price does not exceed the price cap for the relevant product.

Ewura directs all petrol stations to publish petroleum product prices on clearly visible boards.

“The price boards should be clearly visible and should clearly show prices charged, discounts offered as well as any trade incentives or promotions on offer.”

Ewura also urges retailers to issue receipts with respect to all sales that they make “and consumers are advised to demand and keep receipts that clearly show the name of petrol station, date on which such purchase was made as well as, the type of fuel and price per litre for every purchase they make.”

“This can be used as an exhibit in case of a complaint lodged in the event that the selling price is above the cap price or in case the products sold are off the approved specifications.”

Ends

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