Motorists to feel the pain as fuel prices rise in February

Motorists to feel the pain as fuel prices rise in February

Dar es Salaam. Motorists in Tanzania will have to dig deeper into their pockets this month as fuel prices increase, effective Wednesday, February 5, 2025.

The Energy and Water Utilities Regulatory Authority (Ewura) has released new fuel prices for February, reflecting significant increases across the board. Retail fuel prices in Dar es Salaam have risen by 0.957 percent for petrol, 2.18 percent for diesel, and 1.25 percent for kerosene.

The price hikes come despite a decrease in fuel importation costs by an average of 4.90 percent for petrol, 14.94 percent for diesel, and 0.81 percent for kerosene at the Port of Dar es Salaam.

 While there have been no changes in importation costs at the Port of Tanga, costs at Mtwara Port have declined by an average of 6.34 percent for petrol and diesel.

As a result, fuel prices in Dar es Salaam now stand at Sh2,820 per litre for petrol, Sh2,703 for diesel and Sh2,710 for kerosene. This marks an increase from January’s prices of Sh2,793 for petrol, Sh2,644 for diesel, and Sh2,676 for kerosene.

In Tanga, petrol prices have risen to Sh2,825 per litre from Sh2,800, diesel to Sh2,746 from Sh2,656, and kerosene to Sh2,756 from Sh2,722. This represents an increase of 0.88 percent for petrol, 3.27 percent for diesel, and 1.23 percent for kerosene.

Fuel imported through Mtwara Port now costs Sh2,892 per litre of petrol, up from Sh2,866 in January, while diesel has risen to Sh2,775 from Sh2,716. Kerosene prices now stand at Sh2,782, up from Sh2,748 last month.

Ewura’s Director General, Dr James Mwainyekule, has directed oil companies to sell petroleum products at competitive prices while ensuring they do not exceed the maximum set prices or fall below the minimum allowed prices, as per Ewura’s 2022 Petroleum Pricing Regulations.

Additionally, all fuel stations are required to display product prices on visible signboards, clearly indicating any discounts or promotional offers available.

“Where possible, customers are advised to purchase fuel from stations offering lower prices to encourage market competition. It is illegal to sell fuel without clearly displaying the prices for customers,” Ewura stated.

Failure to comply with these regulations will result in penalties for fuel stations. Furthermore, petroleum product sellers are required to issue sales receipts from Electronic Fiscal Pump Printers (EFPP), while buyers must ensure they receive such receipts.

“The receipts must display the station’s name, purchase date, type of fuel purchased, and price per litre. These receipts will serve as proof for b

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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
Tanzania Foreign Investment News
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Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms

President Samia Suluhu Hassan, has handed over a cheque of 354m/- from the National Bank of Commerce (NBC) as compensation to tobacco farmers, who were affected by hailstorms during the previous farming season in various regions across the country.

Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).

Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.

While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.

“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”

Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.

Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.

“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”

ALSO READ: NBC participates in TFF 2023/24 awards, promises to enhance competition

On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.

He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:

At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.

There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.

Source: allafrica.com

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