Kenya to pay oil marketing firms for not increasing April fuel prices
A vessel offloads fuel at Kipevu Oil terminus within the port of Mombasa. Importation of super petrol, diesel and kerosene into Kenya is undertaken through the Open Tender System. PHOTO | NMG
Kenya’s Ministry of Petroleum and Mining has agreed on a plan to compensate disgruntled oil marketing companies (OMCs) for the lower profit margins they made in April by not increasing pump prices.
This was in order to protect consumers against rising global crude prices, which are currently at $65 per barrel from an average of $39.68 per barrel in 2020.
