Fuel prices to go down country wise

Fuel prices to go down country wise

From December 2021, fuel prices in Tanzania are expected to drop following as the government adapts an economical system of importing petroleum products.

With the new system, the government will directly import the products from refineries owned by countries through Tanzania Petroleum Development Corporation (TPDC) rather than the current way of private companies importing the products through Bulk Procurement System (BPS).

The new system will cost less hence, the prices will also go down.

The kinds of fuel to benefit from this includes; diesel, petroleum, Jet-A1, kerosene, and Heavy Fuel Oil (HFO)

The good news came after The Minister of Energy, January Makamba, TPDC’s Managing Director, James Mataragio and Oil and Gas commissioner at the Energy ministry, Mr Michael Mjinja went on official trips to crude oil producing countries; Saudi Arabia, Algeria and United Arabs Emirates.

BPS will continue to work and the government will work to remove any flaws in BPS and the prices will be low though for the entire month of December.

Among other things the government will cooperate with these countries to ensure a steady supply of petroleum products in the country and the neighbouring countries.

“We have also succeeded in persuading the countries we visited to cooperate with us in building a large fuel storage facility [fuel terminal] for the domestic market – one that can also supply to other countries in the East and Central African region – and even beyond,” said Makamba.

TPDC bade the lowest price in the BPS bidding which takes place every month and win the bid for the month of December.