Kenyan Energy Ministry Says Oil-Company Profit Margins Are `Unacceptable'
Margins should be 6 shillings ($0.07) per liter instead of the 12 shillings charged at present, Nyoike told reporters today in Nairobi, the capital, after a meeting with oil companies. The current level is a level that is that companies currently make is “totally unacceptable,” he said.
“There is a lot of profiteering,” Nyoike said. “I have appealed to the oil industry to reconsider their position.”
The companies pay an average of 83 shillings per liter to buy gasoline from fuel depots, according to a ministry statement handed to reporters today. Gasoline currently retails for 96 shillings to 100 shillings in Nairobi.