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{
    "id": 2355,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/2355/?format=api",
    "text_counter": 46,
    "type": "speech",
    "speaker_name": "Eng. M.M. Mahamud",
    "speaker_title": "",
    "speaker": {
        "id": 373,
        "legal_name": "Mohammed Maalim Mahamud",
        "slug": "mohammed-mahamud"
    },
    "content": "Mr. Speaker, Sir, petroleum prices were liberalized in 1994. What we are doing now is trying to put a cap on the price. We are not controlling the prices. We are saying that this is the maximum we can go. The formula we are using is an international formula, which is used everywhere. So, we cannot actually control the price of petroleum products. It is out of our hands. It depends on the international oil prices and the currency exchange rate fluctuations. If we, however, create the right environment for companies to compete properly by having proper infrastructure, that is proper pipelines and storage tanks, then we hope these prices will come down, and at some stage, the competition will become even. Right now, we only have one jetty and ships queue there. You can only discharge one ship at a time. The capacity is also limited. With improvement of infrastructure, we hope the price will actually stabilize."
}