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Relief for oil marketers as State clears Sh8bn subsidy arrears
Oil marketers had in May warned that the piling subsidy arrears had squeezed the industry’s ability to purchase fuel that became costly in the market shocks tied to the US-Israel war on Iran.
The State paid oil marketers Sh7.9 billion for the fuel subsidy scheme last month, helping ease cash flow woes that had hit the industry amid high operational costs.
Kello Harsama, the Principal Secretary in the State Department of Petroleum, said the money was paid to importers who will then pay the respective oil marketers based on the volumes lifted.
