Dollar crunch ‘cost Tanzania oil firms Sh300 billion’

Fuel pic

Oil marketing companies in Tanzania say they have incurred huge losses as a result of the recent dollar crisis. PHOTO | FILE

Dar es Salaam. Oil marketing companies posted more than Sh300 billion in losses over the past year due to the dollar crisis, The Citizenhas learnt.

Consolidated data revealed exclusively to this newspaper shows that 22 oil marketing companies reported losses amounting to Sh301.55 billion since February 2023.