There is a looming shortage of fuel that Kenya could face from next month should Russia implement its plan to cut its oil supply by 500,000 barrels per day.
Despite Kenya not importing oil directly from Russia, the move will put pressure on other oil producing countries which will occasion the shortage and sharp increase on the price of fuel.
This will aggravate the turmoil further that has seen oil marketing firms in the country threaten to end the subsidy deal over outstanding payments by the government.
This could lead to the biting fuel shortage situation that was witnessed in the country last year to hit back unless the government pays the 53 billion shillings debt owed to oil marketing companies.
Earlier before the announcement by Russia Kenyan consumers were staring at higher pump prices caused by delayed issuance of the open tender for fuel importation to be sold in the coming months.
The hitches have been attributed to delays in passing regulations to support government-to-government deals on fuel importation.
In a letter to the State Department of Petroleum, EPPRA said the planned petroleum importation through a government-to-government deal has not been concluded thus delaying issuance of tender for March 2023.
The move threatens to renew turmoil in the oil market, which had so far been able to contain supply disruptions occasioned by Russia-Ukraine war.
EPRA is expected to announce new prices for the next one month on Tuesday in its monthly fuel price capping guide.
