Raila Demands Reduction Of Fuel Prices By Ksh50
Former Prime Minister Raila Odinga has urged the government to lower fuel costs by Ksh50 in response to the decrease in global oil prices.
Raila, addressing a gathering at an ODM recruitment event in Kajiado County last Saturday, clarified that due to the significant decline in global oil prices, he is advocating for a substantial and noteworthy decrease.
He observed that the existing fuel rates established by the Energy and Petroleum Regulatory Authority (EPRA) were excessively steep for Kenyan citizens, causing a significant rise in the overall cost of living.
Raila added that a Ksh5 to Ksh10 reduction would not be sufficient owing to the current oil market dynamics.
“We have information that global prices have gone down. This month the fuel prices must go down by Ksh45 to Ksh50 per liter,” he stated.
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Presently, one liter of Super Petrol is being sold at Ksh217.36, while Diesel is priced at Ksh203.47. Following Raila’s proposal, the December prices at the pump would be Ksh167.36 for Super Petrol and Ksh153.47 for Diesel.
Alternatively, Kerosene, currently priced at Ksh203.06, ought to be adjusted to Ksh153.06 per liter.
Previously, the Central Bank of Kenya (CBK) verified a decrease in worldwide oil prices.
According to CBK, the drop in fuel prices had been occasioned by the drop in demand for oil in the US and China.
“Murban oil price declined to USD 75.18 (Ksh11,641) per barrel on December 7 from USD 85.51 (13,240) per barrel on November 30,” read a statement issued by CBK in part.
Meanwhile, EPRA is expected to announce the December fuel prices on Thursday, December 14.
It is anticipated that there could be a reduction in prices owing to the drop in the international market. However, with the dollar gaining more dominance against the shilling and the 16 percent VAT, the drop may not be as projected by Raila.
Raila Demands Reduction Of Fuel Prices By Ksh50
