The move came to the detriment of the oil companies whose margins were cut. The companies took a Sh4.44 hit on every litre of petrol sold, Sh3.47 on kerosene and Sh2.28 on diesel. Collectively, the oil firms were estimated to take a Sh1.34 billion hit during the month. At the meeting, the marketers and the ministry officials agreed on the modalities of compensation. But it was a double win for the oil companies.

Source: Standard Digital May 04, 2021 03:56 UTC