Request for Proposals
Development of a Regulatory Accounting System (RAS) and Zone Differentials for the Petroleum Fund – Lesotho
Reference No.: PF/RFP/2026/2027-01
The Petroleum Fund of Lesotho (hereinafter referred to as “the Fund”) is mandated to regulate petroleum pricing, ensure security of supply, and promote the sustainability and efficiency of the petroleum sector.
In executing its mandate, the Fund regulates both retail and wholesale prices of petrol, diesel, and paraffin in the country through the Basic Fuel Price (BFP) model. The BFP is based on a cost-plus methodology, under which domestic fuel prices are derived from the sum of:
• The cost of importing fuel products
• The cost of operating within the oil industry
• Wholesale and retail distribution margins
• Applicable taxes and levies
In this regard, the Fund intends to develop and implement a comprehensive Regulatory Accounting System (RAS) to:
• Standardise financial reporting across regulated entities, including Oil Companies and dealers
• Strengthen regulatory oversight
• Support evidence-based pricing decisions
The RAS will be informed by regional best practices and the unique Lesotho context.
A key outcome of this initiative will be the development of a transparent, robust, and data-driven zone-based pricing framework, including the clear definition of pricing zones and associated transport cost differentials across Lesotho.
Access to Terms of Reference
Interested and eligible consultants may obtain the Terms of Reference (TORs) from the Petroleum Fund by writing to:
Requests for TORs will be accepted from Friday, 22nd May 2026.
Clarifications
Requests for clarifications should be made in writing on or before 14:00 hrs on Thursday, 18th June 2026, through the following email address:
Submission of Proposals
Proposals must be submitted to the Petroleum Fund offices in sealed packages clearly marked:
“PF/RFP/2026/2027-01, DEVELOPMENT OF A REGULATORY ACCOUNTING SYSTEM (RAS) AND ZONE DIFFERENTIALS FOR THE PETROLEUM FUND – LESOTHO”
The submission package must contain:
• Technical Proposal sealed in a separate envelope
• Financial Proposal sealed in a separate envelope
Deadline for Submission
The deadline for submission of proposals is:
Tuesday, 14th July 2026 at 12:00 hrs
Public opening of Technical Proposals will take place at:
12:15 hrs on Tuesday, 14th July 2026
Submission Address
Hard copy proposals must be delivered to:
Petroleum Fund
LCCI Building
Orpen Road, Old Europa
Maseru 100, Lesotho
Tel: (+266) 2231 2137
Online Submission
Online submissions may be made by sending encrypted Technical and Financial Proposals to:
All submissions must be received by the stated deadline.