MPs are investigating the questionable payment of at least Sh554 million to 12 Oil Marketing Companies (OMCs) as compensation to cushion Kenyans from high petroleum pump prices. Others are Mt Al Bateen Kosf (Sh13.17 million), Mt Avanti (Sh7.99 million), Texas (Sh2.83 million), Galana Oil Kenya Limited (Sh2.6 million) and Texas (Sh365,703). The audit further noted that there was no petroleum pump prices stabilisation guidance in existence before the stabilisation was commissioned or effected. Epra sets the petroleum pump prices every 14th day of the month. The OMCs were compensated Sh79.75 to help in price stabilisation for the 5,820,790.41 cubic metres of imported petroleum.

Source: Daily Nation May 27, 2024 04:52 UTC