Tanzania orders crackdown on hoarding fuel by oil marketing firms

DAR ES SALAAM, June 15 (Xinhua) — Tanzanian authorities on Monday ordered the Energy and Water Utilities Regulatory Authority (EWURA) to launch a nationwide crackdown on oil marketing companies’ hoarding fuel after prices of the commodity dropped early this month.

“Any oil marketing company found hoarding fuel will be fined not less than 100 million Tanzanian shillings (about 43,000 U.S. dollars),” warned the Minister for Energy, Medard Kalemani when he addressed a news conference in the capital Dodoma.

Kalemani said most of the oil marketing firms selling fuel in the country have decided to stash the commodity after the retail and wholesale prices for the petroleum products imported through the Dar es Salaam port for June dropped compared to prices recorded in May.

“The oil marketing companies have stashed fuel that was imported in June waiting for prices of the commodity to go up,” said the minister.

Source: http://www.xinhuanet.com/english/2020-06/16/c_139141280.htm

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