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Home » Business » Govt Takes Action On Oil Companies Overpricing Fuel

Govt Takes Action On Oil Companies Overpricing Fuel

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The government has announced a plethora of tough punishments on oil marketing companies that have been contributing to the ongoing fuel shortage crisis across the country.

Energy Cabinet Secretary, Amb Monica Juma stated that a section of those companies has been selling fuel to motorists above the prices announced by the Energy and Petroleum Regulatory Authority (EPRA).

“Some Oil Marketing Companies have been selling at prices above the set ceiling, EPRA has issued show-cause letters to all those companies found in breach,” noted the CS while addressing the media on Thursday, April 14.

The government will also increase the quota of the oil marketers who sold above their monthly volumes during the three weeks of the fuel shortage crisis, a matter which will take effect immediately.

Motorists queue for fuel at a petrol station in Kapsabet town following a fuel shortage. /TWITTER

CS Juma further noted that her Ministry will work with their counterparts at the Interior and Petroleum so that the fuel situation in the country is stabilised in the next 72 hours.

Additionally, she assured Kenyans that the country has enough fuel to spare for motorists and that a section of companies have been hoarding fuel with the hopes that the review in prices would enable them to rake in more money.

“The country has sufficient fuel stocks. We have determined that some players are hoarding fuel with hopes that a review in prices will provide them with a financial windfall,” she noted.

As a result, she announced that the government will impose a non-tolerance policy on the companies frustrating Kenyans during the crisis.

“This government will not tolerate any entity or person causing distress or creating an artificial problem. Any entity not ready, able or willing to work within the framework of the laws of Kenya is invited to vacate this market promptly,” she said.

She added that the situation has been viewed by the government as an unacceptable one which equates to deliberate efforts to sabotage the economy of the country, which is a capital crime.

CS Juma also asked fuel retailing outlets to operate on a 24-hour basis to help stabilize the fuel supply in the country.

Here are other key quotes from CS Monica Juma’s address:

I am calling upon all the retailing outlets to operate on a 24-hour basis so that we do not have Kenyans waking up in the middle of the night to go and try to fuel.

The fuel stabilization framework has enabled the pump price in Kenya to remain the lowest in the region. I disabuse the notion that we are having higher prices in this country.

You asked me to update you on the CEO Rubis, there is no update, the CEO Rubis departed the country last night!

I urge Kenyans to desist from making extra-normal bulk purchases of petroleum at this time.

(On the issue of subsidy) As of yesterday, we had dispatched upwards of Ksh34.6 Billion since the programme started last year.

Energy Cabinet Secretary, Amb Monica Juma. /THE STAR


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