The Energy and Petroleum Regulatory Authority (EPRA) has warned oil marketers against holding back stocks in anticipation of a rise in the maximum pump prices in Sunday's review.
"The Energy and Petroleum Regulatory Authority has received reports of artificial shortage of petroleum products in the country particularly in Western Kenya, despite the country being sufficiently stocked,” said the Authority.
“Preliminary investigations indicate that a number of Oil Marketing Companies (OMCs) are deliberately holding back sales to non-franchised petroleum retailers otherwise known as independents, in anticipation or a price increase. This practice is tantamount to hoarding and is an offence under section 99(1)(k) of the Petroleum Act No. 2 of 2019.”
EPRA has warned OMCs and petroleum retail station dealers saying companies or individuals found to be deliberately holding back sales of petroleum products will be deemed to have hoarded, and shall on conviction be liable to a fine of not less than Sh1 million, or face at least one-year imprisonment, or both.
The Authority has also said that it will not hesitate to permanently revoke licences or companies or individuals found in breach of the provision.
- READ MORE
- Shilling's plunge spikes power bills
- Diesel shortage hits petrol stations even as prices dip
- Petrol price up, diesel and Kerosene lowered
- Fuel crisis looms as diesel stocks dip to critical lows
The public has been advised to report any suspected instances of petroleum products hoarding to EPRA.