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ERB cautions against Petroleum products

Filed under: Latest News |

The Energy Regulation Board (ERB) has caution Oil Marketing Companies (OMCs) and Petroleum Retail dealers against deliberately holding back sales of petroleum products especially the days leading up to the announcement of the monthly pricing review.

ERB Public Relations Manager Namukolo Kasumpa says this practice is tantamount to hoarding and is an offence under clause 2.2 of the Conditions of the Licence to Retail Petroleum Products.

“This caution comes against the background of purported stock out reports at some
filling stations prior to the ERB price review announcement. Hoarding petroleum products creates an artificial impression of fuel stocks shortage across the country, triggering unnecessary anxiety in the market and putting undue pressure on the
petroleum supply chain,” she said.

Kasumpa said accordingly, OMCs and Petroleum Retail dealers are hereby warned against engaging in
behavior which amounts to hoarding petroleum products.

“In that regard, the ERB hereby reiterates that any licensee found in breach of License Conditions will be subjected to the due enforcement action which includes fines, suspension and/or revocation of their respective licenced,” she added.


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