Kenya Today
Government Rules Out Fuel Prices Drop
The government has ruled out speculations on any fuel price deduction in the coming future. When appearing before the Senate Committee on Energy on Monday, petroleum Cabinet Secretary, John Munyes, said that fuel prices are determined by external factors and are beyond the ministry’s control.
The CS appeared before the senate a few days after he and his energy counterpart Charles Keter dodged the first invite on September 21st. Senate speaker Ken Lusaka had directed the two to appear before the Upper House after the government removed subsidies on petrol, diesel, and kerosene.
“The cargos will close on the 10th of October and therefore it is at that time we will know whether they are going up or down. So it is not rocket science. It is not something I can say I will do because it is a formula that determines the price,” said Munyes.
Munyes advised Kenyans to brace for tough times ahead as the fuel prices were not going to be reduced anytime soon. Contrary, he also blamed the treasury for failing to release Ksh24 billion meant for price stabilization. “Out of the 32 billion from the petroleum development fund, we spend ksh8.6 billion in the five months to stabilize fuel prices. We did not receive any money in September,” Munyes explained.
