He questioned the rationale behind rising pump prices at a time when fuel supply into the country is reportedly more than adequate.
“It is alarming that EPRA appears to be playing games in cohort with a cabal inside the OMC, even as we have more than enough fuel coming into the country,” Olekina said.
The senator, who serves as a member of the Senate Energy Committee, stated that Kenya’s monthly requirement for Premium Motor Spirit (PMS) stands at approximately 180,000 metric tonnes.
He contrasted this with the volumes currently being delivered under the Government-to-Government (G2G) fuel import arrangement, which he said significantly exceed the country’s demand.
According to Olekina, about 36,000 metric tonnes are currently being offloaded, with an additional 180,000 metric tonnes expected within the next two weeks.
He identified the vessels involved as Valory Roma, MT Banias, and MT Sinthia, noting that the cargo was sourced from Europe and the United States.
“These cargoes were loaded in Europe and the United States at approximately USD 84 per metric tonne, which should translate into cheaper, not more expensive, fuel for Kenyan consumers,” he said.
Olekina argued that the disparity between supply levels and retail fuel prices raises serious questions about the pricing mechanism.
He suggested that the continued upward adjustment of pump prices, despite what he described as ample supply and relatively low landing costs, points to possible systemic manipulation rather than a genuine reflection of market dynamics.
He further called for transparency from both EPRA and players within the petroleum sector, urging them to provide a clear explanation to the public.
According to the senator, Kenyans deserve to understand why fuel prices continue to rise when available data appears to indicate favourable supply conditions.