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Motorists overpay Sh16bn in fuel deal with Gulf firms
Consultants tapped by the energy regulator have asked Kenya to end the oil supply deal with three Gulf-based companies, arguing that it is costly compared to fuel sourced through open tender.
Motorists have been overcharged an estimated Sh16.4 billion or Sh2.70 per litre of fuel since Kenya opted for government-to-government oil supply contracts with three Gulf-based companies, boosting the earnings of three local firms at the expense of consumers.
Kenya entered the deal with Saudi Aramco, Abu Dhabi National Oil Company and Emirates National Oil Company in March last year, switching from an open tender system where local companies bid to import oil monthly.
