Energy Cabinet Secretary Opiyo Wandayi has issued a stern warning to oil marketing companies amid growing concerns over fuel hoarding and speculative stock withholding across the country.
Despite assurances of a stable fuel supply, the CS expressed “grave concern” over reports that some companies are deliberately holding back petroleum products in anticipation of future price changes.
Accusations of Opportunistic Market Conduct
Wandayi described the alleged behavior as “commercially opportunistic” and warned that it undermines the public interest.
He emphasized that such practices distort the market, potentially leading to artificial shortages and unnecessary price pressures on consumers.
The CS noted that the government will not tolerate actions that exploit market dynamics at the expense of Kenyans, especially during periods of economic sensitivity.
According to the Energy Ministry, hoarding fuel violates the terms under which oil marketers are licensed to operate.
Wandayi stressed that all licensed companies are legally obligated to ensure continuous supply and fair distribution of petroleum products.
Failure to comply, he warned, could result in regulatory action against offending firms.
The CS reaffirmed that oil marketers must release fuel at prices set by the Energy and Petroleum Regulatory Authority (EPRA), cautioning against speculative practices that disrupt pricing stability.
Wandayi’s remarks signal a potential crackdown on non-compliant oil marketers as The government aims to prevent artificial shortages.
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