DAR ES SALAAM, Jan. 9 -- THE government has ruled out any immediate hike in fuel prices amid growing fears of potential rise in the global market in the wake of the escalating conflict between the United States and Iran in the Middle East.
Oil prices are sensitive to geopolitical tension like the current one pitting the US and Iran, hence fuelling fears of higher pump prices in importing countries like Tanzania.
However, the Acting Chief Executive Director of the Petroleum Bulk Procurement Agency (PBPA), Mr Erasto Simon, said there was no reason to panic at the meantime since the country has adequate stock which could last for at least the next 30 days.
Early reports had shown that oil prices surged as Iran fired more than a dozen missil...