EPRA explains countrywide fuel shortage
By Judy Jerono
The Energy and Petroleum Regulatory Authority (EPRA) has admitted that the ongoing looming fuel shortage is due to delay in compensating Oil Marketing Companies (OMCs) who resorted to hoarding fuel while awaiting compensation.
In a statement, EPRA said that the recent escalation in international prices has caused a huge difference between the actual calculated and the stabilized pump prices
"There have been delays in remitting compensation from the stabilization fund and this has resulted in a number of Oil Marketing Companies (OMCs) holding back sales to the local market," read the statement.
[caption id="attachment_6317" align="alignnone" width="800"]
File image of a petrol station attendant fueling a car. |Photo| Courtesy|[/caption]
They called upon the companies to free petroleum supplies in order to ease the current supply crisis assuring to settle all the pending claims.
"EPRA in conjunction with the Ministry of Petroleum and Mining has, however, assured OMCs of the Government's commitment to promptly settling all pending claims on account of the stabilization process.
The rise was caused by the Covid-19 effects across the world that was quickly succeeded with the ongoing Russia-Ukraine war destabilizing the supply of the crucial product.
The hiked petroleum prices were first caused by covid-19 pandemic and immediately thrived by the on-going Russia-Ukraine conflict.
On Saturday, the Kenya Pipeline Company (KPC) also disclosed that there was enough oil stock across the country's depots sufficient to sustain the whole country dispelled reports that the country was facing an acute fuel shortage.
KPC indicated that there are over 69 million litres of super petrol, more than 94 million litres of diesel, more than 13 million litres of kerosene and over 23 million litres of jet fuel.
KPC Managing Director, Macharia Irungu unveiled that the country has received more supply that is yet to be released at the port of Mombasa.
"Our global stock holding is adequate to serve the region, with more ships in Mombasa queued for discharge," Macharia explained.
Energy and Petroleum Regulatory Authority (EPRA) had earlier released a statement attributing the fuel shortage to logistic constrain
File image of a petrol station attendant fueling a car. |Photo| Courtesy|[/caption]
They called upon the companies to free petroleum supplies in order to ease the current supply crisis assuring to settle all the pending claims.
"EPRA in conjunction with the Ministry of Petroleum and Mining has, however, assured OMCs of the Government's commitment to promptly settling all pending claims on account of the stabilization process.
The rise was caused by the Covid-19 effects across the world that was quickly succeeded with the ongoing Russia-Ukraine war destabilizing the supply of the crucial product.
The hiked petroleum prices were first caused by covid-19 pandemic and immediately thrived by the on-going Russia-Ukraine conflict.
On Saturday, the Kenya Pipeline Company (KPC) also disclosed that there was enough oil stock across the country's depots sufficient to sustain the whole country dispelled reports that the country was facing an acute fuel shortage.
KPC indicated that there are over 69 million litres of super petrol, more than 94 million litres of diesel, more than 13 million litres of kerosene and over 23 million litres of jet fuel.
KPC Managing Director, Macharia Irungu unveiled that the country has received more supply that is yet to be released at the port of Mombasa.
"Our global stock holding is adequate to serve the region, with more ships in Mombasa queued for discharge," Macharia explained.
Energy and Petroleum Regulatory Authority (EPRA) had earlier released a statement attributing the fuel shortage to logistic constrain What's Your Reaction?
