Ruto’s Emergency Meeting: Tackling Ksh300 Fuel Price Panic
President William Ruto convened a crisis meeting on Tuesday to discuss the impending increases in fuel prices, following an indication by Energy Cabinet Secretary Davies Chirchir of a potential upward revision.
Ndindi Nyoro, chairman of the budget committee of the National Assembly, stated to Ghetto Radio that Ruto had called the leadership of Kenya Kwanza to address the crisis, which could plunge Kenyans deeper into economic despair.
“The economy is heading in the right direction and we are doing our best. Fuel prices will not rise to the predicted levels,” Nyoro revealed.
Chirchir’s statement to the National Dialogue Committee (NADCO) on Monday that petroleum prices may increase should the ongoing Israeli conflict in Gaza continue incited raucous protests.
“I read an article in the Financial Times the other day that because of the Hamas and Israeli War, the international prices could go up to USD150 (per barrel) and that would mean our products going to a high of Ksh300 at the pump,” CS Chirchir told National Dialogue Committee.
The remarks were made concurrently with the Central Bank of Kenya’s (CBK) observation that international crude prices have declined, as neighboring Tanzania has also decreased its pump pricing.
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Nyoro defended Chirchir by asserting that the media had erroneously quoted the Energy CS.
The representative from Kiharu explained that Chirchir had intended for petroleum prices to increase contingent on the current international climate remaining unchanged.
Additionally, Nyoro asserted that Kenya Kwanza inherited a collapsing economy and that simultaneously reducing the prices of all commodities was unattainable.
The lawmaker noted that Ruto’s administration will endeavor to reduce the prices of essential commodities and products such as fuel and unga shortly.
Ruto and his allies have held Uhuru accountable for the failure to revive the economy in his first year in office.
The crisis meeting occurred before the Energy and Petroleum Regulatory Authority’s (EPRA) November 14 assessment of fuel prices.
At the moment, the retail price of fuel is at an all-time peak of Ksh217.36 for super petrol and Ksh205.47 for diesel.
Ruto’s Emergency Meeting: Tackling Ksh300 Fuel Price Panic
