Gulf firms in State deal cut fuel costs as contracts are extended

MT Marlin Sardinia making her maiden call at the Port of Mombasa's Kipevu Oil Terminal (KOT II) in Mombasa County on Tuesday 18th June 2024. [Kelvin Karani, Standard]

The cost of fuel could fall in the coming weeks after the three Gulf firms that sell petroleum products to Kenya under the government-to-government deal agreed to lower costs by between six and 13 per cent.

At the same time, the government has extended the contracts for the three Gulf oil firms to the end of 2027. It is the third time that the deal has been extended.