Kenya Plans to Stabilize Fuel Price as Outages Hit Some Stations

Article content(Bloomberg) — Kenya plans to stabilize fuel prices as some stations run out of supply in the East African nation that typically depends on Middle East imports to meet demand.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentVitol Group’s Vivo Energy, the biggest retailer in the country, said Thursday in a post on X that increased fuel demand resulted in temporary outages at some of its outlets. Kenya’s Treasury Secretary John Mbadi the same day outlined initial measures to be taken by the government to keep petrol and diesel prices from surging.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentKenya will utilize its petroleum development levy to cap pump prices, though a lengthy war could become an emergency, Mbadi told lawmakers in the capital, Nairobi. “It is my hope that we will not see this war prolonged for another month or so.”Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentMany African economies, particularly in East and Southern Africa where the Middle East is a major exporter, are running on weeks of stored refined products as the Iran war chokes shipments through the Strait of Hormuz. Governments have this week sought to reassure residents that there are sufficient stocks and asked them not to hoard fuel.Article contentKenya’s outlying gas stations have been the first to dry up as major oil companies are holding back from wholesaling product that would normally be distributed, according to a lobby group of independent operators.Article content“Rural stations are the worst hit — we can’t get product at competitive prices,” said Martin Chomba, chairman of the Petroleum Outlets Association of Kenya.Article contentAbout 68% of Kenya’s 6,200 gas stations are non-franchised and a “substantial number are not able to access products,” he said.Article content—With assistance from Matthew Hill.Article contentTrending Meet the Canadian e-bike maker who is redefining the factory floor Electric Vehicles Iran oil revenue soars as it's the only exporter out of Hormuz Oil & Gas Markets could be making the wrong call on interest rates Investor Quebec demands Air Canada’s CEO resignation in 92 to 0 vote Airlines LNG Canada signs key pipeline agreement required for phase two expansion Energy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Meet the Canadian e-bike maker who is redefining the factory floor Electric Vehicles Iran oil revenue soars as it's the only exporter out of Hormuz Oil & Gas Markets could be making the wrong call on interest rates Investor Quebec demands Air Canada’s CEO resignation in 92 to 0 vote Airlines LNG Canada signs key pipeline agreement required for phase two expansion Energy