Business NewsRetailers hoarding fuel in anticipation of better prices in next week oil prices review says EPRAThe Energy and Petroleum Regulatory Authority (EPRA) has warned oil marketers against holding back stocks in anticipation of a rise in the maximum pump prices in Sunday's review. "The Energy and Petroleum Regulatory Authority has received reports of artificial shortage of petroleum products in the country particularly in Western Kenya, despite the country being sufficiently stocked,” said the Authority. “Preliminary investigations indicate that a number of Oil Marketing Companies (OMCs) are deliberately holding back sales to non-franchised petroleum retailers otherwise known as independents, in anticipation or a price increase. This practice is tantamount to hoarding and is an offence under section 99(1)(k) of the Petroleum Act No. The public has been advised to report any suspected instances of petroleum products hoarding to EPRA.

Source: Standard Digital June 09, 2020 08:29 UTC