Energy and Petroleum Regulatory Authority (Epra) has defended its decision to increase fuel prices at a time many Kenyans are facing harsh economic times as a result of the prevailing Covid-19 pandemic. Competitive“After benchmarking globally, the demand for crude oil has considerably risen leading to the high prices in its importation”. “Towards mid last year there was a collapse in the price for crude oil globally. However, the director general said, there were consultations within the Ministry of Petroleum and the regulator on how to stabilise the prices going forward. We are finding a lasting solution to stabilise the prices to cushion the locals from fluctuation,” he said.

Source: Standard Digital February 20, 2021 07:00 UTC