This archive report was first published on 13 June 2020.
Kenya's fuel market is set for a shake-up as the Energy and Petroleum Regulatory Authority (EPRA) announces new prices for the next month on Sunday.
The regulator recently raised the alarm over artificial shortages in some areas, prompting a review of fuel prices.
According to EPRA documents seen by the Nation, petrol pump prices are expected to jump by at least Sh6.50 per litre in Nairobi starting Monday, while diesel users will see a Sh2 drop per litre.
International crude prices have experienced a rapid recovery after the Organisation of the Petroleum Exporting Countries (OPEC) agreed to cut production by 9.7 million barrels per day at the start of May.
EPRA warned marketers who were hoarding fuel that they risked losing their licences or financial penalties.
Director-General Pavel Oimeke said the hoarding was mainly being done by the major oil marketers with huge storage facilities and who import large volumes.
“It is illegal and we will take stern action on them should they continue doing that. We have also instructed Kenya Pipeline to alert us when they notice such practices,” Mr Oimeke said.
