The head of Kenya\u2019s independent fuel retailers told Reuters that hundreds of dealers were running short due to the\u00a0Iran war, saying about 20% \u200bof the outlets were affected after the regulator froze pump prices \u200cdespite rising global oil costs.<\/p>\n
Dealers are likely to start hoarding petroleum products in anticipation of consumer fuel price hikes next month, said Martin Chomba, chairman of the Petroleum Outlets Association of \u200bKenya (POAK).<\/p>\n
African countries are\u00a0among the most exposed\u00a0to both supply disruptions and higher \u200bprices after the conflict all but halted shipments of about one-fifth \u2060of the world’s oil and liquefied natural gas through the Strait of \u200bHormuz.<\/p>\n
Kenya obtains all its fuel supplies from the Middle East through government-to-government deals with \u200bGulf crude producers and refiners.<\/p>\n
“We have constrained supply,” said Chomba, whose association represents independent retailers, transporters and others, serving 68% of the national market.<\/p>\n
“So far about 20 percent (of some 3,100 \u200bretailers) are affected… (in) two weeks it will be a total crisis with no \u200bfuel in most outlets if the tension in the Middle East continues.”<\/p>\n
On March 14 the \u200cstate-run \u2060sector regulator, the Energy and Petroleum Regulatory Authority (EPRA), left pump prices for petroleum products unchanged for the next 30 days despite the spike in international crude oil prices.<\/p>\n
“Real shock is on the way,” Chomba said, referring to the possibility of \u200bhoarding. He added \u200bthat POAK had \u2060been pressing authorities in Nairobi to end the government-to-government deals and allow fuel marketers to purchase products from private suppliers \u200bas a contingency measure.<\/p>\n
EPRA Director General Daniel Kiptoo Bargoria told \u200bReuters that \u2060Kenya had “sufficient stocks”, adding that the regulator would issue a statement later on Tuesday.<\/p>\n
A ruling party lawmaker, Nelson Koech, said on Monday that “speculation, panic buying, and hoarding… \u2060particularly hoarding \u200bby oil marketers’ in anticipation of a price \u200bjump” had seen demand jump over the past two weeks, affecting access to supplies.<\/p>\n","protected":false},"excerpt":{"rendered":"
The head of Kenya\u2019s independent fuel retailers told Reuters that hundreds of dealers were running short due to the\u00a0Iran war, saying about 20% \u200bof the outlets were affected after the regulator froze pump prices \u200cdespite rising global oil costs. Dealers are likely to start hoarding petroleum products in anticipation of consumer fuel price hikes next […]<\/p>\n","protected":false},"author":1,"featured_media":20241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":8,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_comment_section":"1","number_popup_post":"1","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","source_name":"Reuters","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[29,2831],"tags":[4963,111,4962],"class_list":["post-20240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-africa","category-energy","tag-energy-and-petroleum-regulatory-authority-epra","tag-kenya","tag-petroleum-outlets-association-of-kenya-poak"],"_links":{"self":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/comments?post=20240"}],"version-history":[{"count":1,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20240\/revisions"}],"predecessor-version":[{"id":20242,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/posts\/20240\/revisions\/20242"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media\/20241"}],"wp:attachment":[{"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/media?parent=20240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/categories?post=20240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qiraatafrican.com\/en\/wp-json\/wp\/v2\/tags?post=20240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}