The government has ordered oil marketing companies to immediately release any hoarded petroleum products warning that strict action will be taken against firms found withholding fuel from the market.
Energy and Petroleum Cabinet Secretary Opiyo Wandayi on Wednesday assured Kenyans that the country has sufficient fuel reserves, dismissing fears of an imminent shortage and urging the public to avoid panic buying.
Speaking during a press conference on March 25, Wandayi accused a section of oil marketers and retailers of deliberately hoarding fuel in anticipation of possible price increases.
“We have noted with grave concern that some retailers are hoarding products with the intention of selling at higher prices. This is unacceptable, and we will take firm action against those found in violation,” he said.
The CS warned that such practices amount to exploitation of consumers and a breach of licensing conditions, adding that the government will pursue legal action against offenders.
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He directed all licensed oil marketers to maintain a steady supply of petroleum products and strictly adhere to prices set by the Energy and Petroleum Regulatory Authority (EPRA). Failure to comply, he said, could result in sanctions including suspension or revocation of operating licenses.
Wandayi further assured the public that there are no immediate plans to adjust pump prices, emphasizing that fuel stock remains stable.
“On the matter of pricing, we shall address it when the time comes. For now, I urge Kenyans not to engage in panic buying. We have adequate stocks, and the government will ensure continued supply,” he added.
Supply Chain Remains Stable
The ministry also confirmed that government-to-government fuel supply agreements remain intact, with key international suppliers- including Saudi Aramco, Abu Dhabi National Oil Company, and Emirates National Oil Company- not signaling any disruption to deliveries.
Regional Perspective
In neighboring Uganda, Energy Minister Ruth Nankabirwa Ssentamu also reassured citizens of stable fuel supplies, warning oil companies against exploiting the situation.
Uganda, which relies heavily on imports through the Port of Mombasa, said it currently holds fuel reserves sufficient to last at least 21 days.
Current Fuel Prices
Fuel prices in Kenya remain regulated, with pump prices in Nairobi currently standing at Ksh178.28 per litre for Super petrol, Ksh166.54 per litre for diesel, and Ksh152.78 per litre for kerosene.
In Uganda, petrol is retailing at approximately Ksh173 per litre, while diesel costs about Ksh164 per litre.
