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Shares hardest hit by price controls
#41 Posted : Saturday, October 07, 2017 8:15:42 AM
Rank: Elder

Joined: 4/22/2010
Posts: 10,363
Location: Nairobi
Ericsson wrote:
mlennyma wrote:
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.

Applause Applause Applause

the oil stocks will rally hard

The price controls have hurt the small players and the big players have really benefitted.
Kenol Kobil and Total profits have skyrocketed


Oil marketers have asked the government to retain price controls on fuel in a surprise move that looks set to delay efforts to open up the industry for competition.
The companies, represented by the Petroleum Institute of East Africa (PIEA), have apparently swapped positions with the government which seven years ago introduced the price caps in an effort to tame exploitation of consumers.
possunt quia posse videntur
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