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Kenya: Ministry to Control Fuel Prices

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The Nation (Nairobi)

14 May 2008
Posted to the web 14 May 2008

Bernard Namunane
Nairobi

The Government hinted that it may step in and control fuel prices if they consistently continue to rise.

Energy minister Kiraitu Murungi spoke of the option as he said the global oil industry was also facing hard times. He predicted that the prices would be on upward trend until 2010.

Spill over

In spite of the gloom spelt out in a recent report by the Organisation of Petroleum Exporting Countries (Opec), Mr Murungi sought to give the public a glimmer of hope by outlining the measures to be taken to cushion motorists and consumers from the spill over effects in prices of other commodities.

Just like his predecessors, he blamed multinational companies for denying Kenyans a chance to benefit from the industry. The cartels, he added, were behind the increase in oil prices, the highest ever in the country's history.

Escalating

"The Energy minister has powers in Section 102 (W) of the Energy Act to direct the Energy Regulatory Board to monitor the prices with a view to fixing retail prices. If the situation warrants, I will take decisive action to protect Kenyans from the escalating oil prices.

"There is an unprecedented escalation in the prices of fuel in Kenya and the world," he said.

Relevant Links East Africa Economy, Business and Finance Energy Kenya Petroleum

He was giving a ministerial statement on the escalating of fuel prices that was requested last week by Mutito MP Kiema Kilonzo (ODM-K).

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East Africa Economy, Business and Finance Energy Kenya Petroleum

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