Live WTI crude oil price converted to Tanzanian Shillings using live bank rates. Updated every hour.
The oil price shown on this page is the WTI (West Texas Intermediate) crude oil spot price — the international benchmark for crude oil — converted to Tanzanian Shillings using the live median USD/TZS rate from Tanzanian banks.
Tanzania imports all of its petroleum products. The international crude oil price directly affects fuel prices at Tanzanian petrol stations, transport costs, electricity generation costs and the price of goods across the country.
When global oil prices rise, Tanzania faces higher import costs for petroleum products including petrol, diesel and kerosene. This leads to higher pump prices, increased transport costs and higher prices for consumer goods. In 2026, oil prices surged significantly due to the US-Iran conflict closing the Strait of Hormuz — through which about 20% of global oil supply passes daily.
Higher oil prices also put pressure on the Tanzanian Shilling. When Tanzania needs to import more expensive oil, it must spend more US Dollars — increasing demand for USD and putting downward pressure on the TZS. This means oil price movements affect both fuel costs and exchange rates in Tanzania.
No. FXScannerTZ is purely an information platform. We do not buy, sell or trade oil or fuel in any form. We only show you the live international oil price converted to TZS so you can track global energy market movements.
There are two main global oil benchmarks — WTI (West Texas Intermediate) and Brent Crude. FXScannerTZ tracks WTI crude oil. Brent crude, which is the international standard more relevant to African markets, typically trades at a slight premium to WTI. The prices are usually very close and move in the same direction.