The cost of petroleum products is expected to jump by large margins as the government removes controls that have seen the Ministry of Energy set retail prices every month. Energy secretary Charles Keter said the price controls regime, which was established seven years ago, had run its course and needs to be retired.
The controls were introduced in December 2010 to protect consumers from high retail prices that were blamed on cartel-like behaviour among marketers. “We have seen efficiency and discipline return to the petroleum market and the government has no business to continue dictating prices,” said Mr Keter.
