NAIROBI, Kenya, April 14 – The Government has assured that it will continue implementing the fuel subsidy program which was launched in 2020 to cushion Kenyans against rising global oil prices.
The Energy Petroleum Regulatory Authority(EPRA) is today set to review fuel prices for the month of April amid concerns that should the subsidy be removed, motorists will pay up to Sh40 more for a liter of petrol.
Currently, Super Petrol and Diesel retail at Sh134.72 and Sh115.60 per liter respectively.
Energy and Petroleum Cabinet Secretary Monica Juma, during a press briefing, also affirmed that the country has sufficient fuel stocks amid mounting fuel shortages witnessed across the country posing threat to the economy.
So far, she noted that Sh34.6 billion has been disbursed to oil marketing companies and that the Government is in receipt of the outstanding balance payable to the firms.
The ongoing crisis has largely been linked to the hoarding of oil stocks by specific marketing companies who instead divert them to neighboring countries and thus creating an unnecessary shortage in Kenya.
Juma urged for calm even as she assured Kenyans that normalcy will resume within 72 hours.
In partnership with the government securities agencies, Juma noted that security will be provided for oil transporters in order to ensure petrol stations operate on a 24-hour basis.
Additionally, she said the Government will initiate a process that will reward oil marketing companies who sold above their normal quota during the fuel crisis period.
Such firms, she said will benefit from additional capacity while those who sold less than their normal capacities will have their respective capacities reduced.
“We have sanctioned a process of reallocating petroleum import capacity, the rationalizing is aimed at creating a healthy balance between transit and local volumes,” she said.
In a bid to crack the whip on oil marketers accused of economic sabotage by exporting fuel meant for the local market, the Uhuru Kenyatta-led Government deported Rubis Chief Executive Officer Jean Christian Bergeron to France.
“It is true the Rubis CEO Bergeron has been deported over economic sabotage,” a source at the Interior Ministry told Capital FM News.
Rubis is the third biggest marketer in Kenya after Total and Vivo energies and controls 8.6 percent of the local market.
