Monday, February 26, 2024

State forms corporation to control gas prices

The State will import 30 percent of cooking gas through the National Oil Corporation of Kenya in a move to curb the rising price of the commodity.

This is after the state reviewed the regulations reserving 30 percent cooking gas imports to the state corporation.

Market Prices

This is in a move to influence the market prices forcing the private importers to lower the cost of Liquid Petroleum Gas (LPG) and the retail prices.

“The Petroleum Products Quota Allocation shall be as set out in the First Schedule and the purpose of the quota allocation will be to ensure price stabilisation in an unregulated pricing regime,” said EPRA.

A 13 kilogramme cooking gas now retails at Sh3, 400 from Sh2, 250 in June.

Cooking gas has been the most preferred source of energy most of the households hence the rise has piled pressure on most families.

The price of the commodity was initially not being controlled by the state leaving it to the market forces of supply and demand.

Austine Ogalo
Lake Region Bulletin is your one stop multi-media platform for news and stories from the Lake Region counties of Kisumu, Siaya, Homabay ,Migori, Siaya, Kissi,Nyamira, Vihiga, Kakamega, Busia, Bungoma, Trans Nzoia, Nandi, Kericho and Bomet

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