Our investment in Dangote conforms to national security ― NNPC tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
This has put pressure on the Energy and Petroleum Regulatory Authority (Epra), which is legally mandated to announce monthly fuel price reviews, with demands to reverse the shocking increments and to suspend the new prices.
Following the uproar, the agency Tuesday argued that it determines the prices using a predetermined formula, which is enshrined in law.
Epra said pricing of petroleum in Kenya is undertaken in accordance with the Energy (Petroleum Pricing) Regulations, 2010, adding that the country imports refined petroleum products for local consumption.
Incremental costs
“The Regulations detail a formula for determining the landed cost of imported petroleum products and thereafter other costs along the petroleum supply chain are added to arrive at the pump price,” Epra said in the statement.
By
Wed Mar 17 2021
The Energy and Petroleum Regulatory Authority (EPRA) of Kenya has defended itself following a public uproar resulting from the latest shocking increase in fuel prices. This is just as Nigerians are battling effects of several petrol price hikes as well as fuel scarcity amidst speculations of another hike.
According to Kenya’s The Nation newspaper on Tuesday, the hike has seen the price of petrol shoot above the Sh120 mark per litre, pushing it to nine-year high at a time when Kenyans are grappling with the effects of the Covid-19 pandemic amid a third wave.
Petroleum CS John Munyes Defends Rising Fuel Prices nairobiwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nairobiwire.com Daily Mail and Mail on Sunday newspapers.
Epra defends itself over high fuel price increase businessdailyafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessdailyafrica.com Daily Mail and Mail on Sunday newspapers.