Page 10 - DMEA Week 22 2022
P. 10

DMEA                                               FUELS                                               DMEA


       Ghana to educate commercial




       drivers about pricing, supplies




        AFRICA           GHANA’S National Petroleum Authority (NPA)  would help put worries to rest. “I have seen
                         staged a workshop on May 25 to educate com-  mates actually in fisticuffs with passengers. You
                         mercial drivers about fuel pricing and quality, the  are upset about petroleum price increases and
                         Times has reported.                  so on,” he commented. “All of those things came
                           The day-long event comes following recent  to our attention, and it is as a result of a lack of
                         price hikes in petroleum product prices. Ghana,  knowledge on how we arrive at these petroleum
                         like many other countries, has seen fuel prices  [product] prices.”
                         rise in recent months in response to bullish   Abdul-Hamid also stressed that fuel price
                         trends on crude oil markets, which have gained a  increases were a global phenomenon that
                         great deal of momentum due to factors including  affected even major economies, including the
                         the imposition of Western sanctions on Russia  UK and the US. The rise is not a situation that is
                         following its invasion of Ukraine.   under Accra’s direct control, he said.
                           NPA chief executive Mustapha Abdul-Hamid   Meanwhile, Abass Tasunti, in charge of eco-
                         said at the workshop that drivers had no cause  nomic regulations at the NPA, took the partic-
                         to be concerned about fuel shortages. Ghana’s  ipants through the dynamics and mechanisms
                         government has put measures in place to ensure  involved in fuel pricing in Ghana. He also ech-
                         sufficient supplies of petroleum products on the  oed Abdul-Hamid’s reassurances about supplies,
                         local market, he said.               adding that the state had put in place measures
                           He also noted that higher prices had put  to ensure that the country did not experience any
                         the public on edge and asserted that education  shortages of petroleum products.™




       Tanzania gets price relief after




       subsidy comes into force




        AFRICA           THE Energy and Water Utilities Regulatory   It was also reported that the government was
                         Authority (Ewura) slashed fuel prices following  in the final stages of securing loans from the
                         government’s $43mn subsidy as an intervention  World Bank and International Monetary Fund
                         to tame spiralling pump prices that were blamed  to help cushion the rising cost of living that arise
                         on Russia’s invasion of Ukraine, according to  from high fuel prices due to Russia Ukraine con-
                         media reports.                       flict. The minister added that the subsidy was
                           The regulator published lowered prices  expected to reduce government spending for the
                         of fuel where a litre of petrol in Dar es Salaam  remainder of 2021/22 fiscal year but would not
                         was reduced by TShs 306 ($0.132) to TSh2, 994  affect the ongoing development projects. Under
                         ($1.29) in June from TSh3300 ($1.42) the previ-  the of the land, Ewura is required to publish cap
                         ous month while diesel also dropped by Tshs320  prices for both wholesale and retail every month
                         ($0.138) from TSh3, 258($1.40) in May to  as the products are imported through bulk pro-
                         TSh3, 131 ($1.346) in June. However, kerosene  curement system, though the entire market is
                         increased from TShs3, 112 ($1.34) to TShs3, 299  controlled by the rule of demand and supply.
                         ($1.42) since it was not included in the subsidy.  “The government of Tanzania has taken var-
                           Without government intervention, prices  ious measures to address the effects of the sharp
                         would have been of petrol and diesel would have  rise in oil prices and ensure the fuel availability
                         gone up to TSh3,301 ($1.419) and TSh3,452  at all times in the country. In May 2022, the Pres-
                         ($1.484) per litre, respectively, it added.  ident agreed to offer a Sh100 billion subsidy to
                           Following President Samia Suluhu Hassan’s  control the prices on the domestic market this

                         directive to responsible ministries and authority  month,” Ewura was quoted saying. In other areas
                         to find a quick solution towards rising fuel prices,  in the country, prices of petrol will vary from the
                         on May 10, Tanzania’s minister of Energy, Janu-  lowest level of TSh2,985 per litre in Tanga to
                         ary Makamba announced that the government  TSh3,232 in Kyerwa, Kagera Region while die-
                         had provided a subsidy of TSh100bn ($43mn)  sel will range from TSh3,13 in Dar es Salaam to
                         to reduce fuel prices in the country.   TSh3,368 in Kyerwa, Ewra added.™



       P10                                      www. NEWSBASE .com                           Week 22   02•June•2022
   5   6   7   8   9   10   11   12   13   14   15