Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
In a statement the KPC acting Managing Director Flora Okoth says the company has enough stocks in their systems in Nairobi and other parts of the country for all products/FILE

Kenya

KPC says it’s not to blame for fuel shortage

In a statement the KPC acting Managing Director Flora Okoth says the company has enough stocks in their systems in Nairobi and other parts of the country for all products/FILE

In a statement the KPC acting Managing Director Flora Okoth says the company has enough stocks in their systems in Nairobi and other parts of the country for all products/FILE

NAIROBI, Kenya, May 14 – Kenya Pipeline Company (KPC) has distanced itself from the ongoing fuel shortage in the country saying it’s not to blame.

In a statement the KPC acting Managing Director Flora Okoth says the company has enough stocks in their systems in Nairobi and other parts of the country for all products.

“On Thursday May 7th KPC released 1.6 million litres of super petrol to the market and it’s therefore not to blame for the fuel shortage, as per the stocks position on May 21, 2015 there were over 18 million litres of super petrol in Nairobi,” she said.

Okoth says over the last seven days, KPC released over 14 million litres of Super petrol to various oil marketing companies compared to an average daily consumption of two million litres.

She says about 101 million litres equivalent to 40 percent of the total loadable stocks for all grades had been in the KPC system for the last seven days comprising of 17 million litres of super petrol, 18 million litres of Diesel and 66 million litres of Kerosene.

“The top ten oil marketing companies held 76 million litres equivalent to 75 percent of the product aged above seven days and the rest was held by other oil marketing companies, “ Okoth added.

Meanwhile, Energy Regulatory Commission on Thursday afternoon set to announce new fuel prices amidst the fuel shortage.

Earlier, The Commission had cautioned all oil marketing companies that hoarding of petroleum products in anticipation of an economic gain is illegal and any company found culpable of such an activity risks cancellation of their operating license.

In the last ERC review the price of super petrol decreased by Sh0.11 a litre across the country for this month, while diesel was Sh1.28 higher. Kerosene increased by Sh1.46 per litre.

In Nairobi a litre of petrol is retailing at Sh89.35 a litre, diesel costs Sh77.48 a litre and kerosene is retailing at Sh57.21.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...