Economic experts in Tanzania are urging the government to accelerate natural gas infrastructure development and build strategic fuel reserves to mitigate the impact of geopolitical tensions on fuel prices.The advice comes as US-Iran clashes escalate, disrupting oil shipments through the Strait of Hormuz, which handles 20% of global oil trade.Dr Donath Olomi warns that rising fuel costs trigger broader economic inflation, urging immediate fiscal relief and prioritized gas projects.Prof Abel Kinyondo emphasizes the need for large-scale fuel storage tanks to last an entire year, citing current reserves only cover three months.Both experts highlight Tanzania's reliance on imported fuel and call for domestic energy alternatives like solar, wind, and hydroelectric power.They stress that political short-termism hinders long-term energy plans, suggesting constitutional amendments could ensure sustained progress.
Analysts note global price fluctuations due to Middle East tensions, underscoring the need for Tanzania to strengthen reserves and pivot toward renewable energy sources.
Original title: Experts: How US-Iran clashes trigger fuel price anxiety
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