Nairobi — The Petroleum Outlets Association of Kenya (POAK) has urged the Energy and Petroleum Regulatory Authority (EPRA) to increase fuel prices in line with global markets to stabilise supply and prevent shortages.

POAK chairperson Martin Chomba said failure to adjust prices could encourage hoarding by oil marketers anticipating higher future prices.

"The thinking... is that if the prices are brought to a level commensurate with what is happening in the international market, maybe the majors will release the product," he said.

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Chomba noted that current pump prices reflect February shipments, which had not yet been affected by the recent spike in global oil prices.

"The government of Kenya does not own even a litre of petrol; it is all in the private sector, where people are rational and are thinking of maximising their profits," he added.

He said delays in oil tankers docking at the Port of Mombasa have created a supply gap, leading to shortages at some stations and triggering panic buying.

The situation has been worsened by tensions in the Middle East involving Israel, Iran and the United States, which have disrupted key oil supply routes, including the Strait of Hormuz, through which a significant share of global oil passes.

"As we speak, a number of vessels that were scheduled to reach the port of Mombasa have not been able to keep the schedule. The longest we can stay without a petroleum tanker docking... is between 21 and 30 days," Chomba said.

The government has, however, maintained that the country has adequate fuel stocks, recently confirming receipt of more than 100 million litres of super petrol expected to last about two weeks.