Tanzania has proposed a review of its fuel import system to address price fluctuations that lead to high pump prices.
Energy regulatory authorities said they are monitoring the effectiveness of the current bulk oil importation through tendering to ensure stability of the monthly capped prices determined by global fuel markets.
The Bulk Procurement System (BPS) used to import petroleum products may be overhauled if officials find it inefficient, said the Energy and Water Utilities Regulatory Authority (Ewura).
Ewura Director General James Andilile said on Tuesday that initial assessment on oil market has been conducted to ensure that many local oil marketing companies partake the importation of fuel and review of the entire price planning system.
“We have carried out changes in the regulations to encourage more companies to enter into the bidding process,”