Some Multinational Oil Marketing Companies -OMC’s are not happy with the recently announced adjusted fuel pump prices instead of opting for slightly higher prices than those settled for by government through the Energy Regulations Board (ERB).The price of petrol was recently hiked from K17.62 to K21.16 while that of diesel was adjusted upward from K15.59 to K20.15, prices the OMC’s do not agree with.According to Phoenix news, OMC’s association president Kafula Mubanga said while the removal of subsidies was welcome, most OMC’s are of the view that the hike should have been slightly more and has attributed the current shortage in some parts of the country to some companies withholding stock to solicit government for a higher price increase in fuel.Dr. Mubanga has also cited transportation challenges from ports of discharge due to the rains as part of the reason for the shortage of fuel but has assured stakeholders supply will stabilize during the course […]
SOME OIL MARKETING COMPANIES WANT A HIGHER FUEL PRICE ADJUSTMENT
