DAR ES SALAAM (Reuters) - Tanzania lowered retail fuel prices on Wednesday following a drop in the price of crude oil in global markets, raising hopes of further declines in the country's inflation rate.
Food and fuel prices are the main drivers of inflation in east Africa's second-biggest economy.
Year-on-year inflation fell for the sixth straight month in June to 17.4 percent from 18.2 percent previously, helped by lower food and energy costs.
The state-run Energy and Water Utilities Regulatory Authority (EWURA) lowered the price of petrol in the commercial capital Dar es Salaam by 7.81 percent to 2,009 shillings per litre, and cut that of diesel by 4.81 percent to 1,943 shillings.
The price of kerosene was lowered by 5.05 percent to 1,926 shillings per litre. The new maximum price take immediate effect until the next review next month, EWURA said.
EWURA said it had also lowered wholesale prices for petrol by 8.09 percent, diesel by 4.99 percent and kerosene by 5.24 percent.
Source: http://news.yahoo.com/tanzania-cuts-retail-fuel-prices-cheaper-crude-090327613--business.html
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