Fuel prices likely to hit Ksh 300 over Israel-Palestine conflict; Energy CS Chirchir
Energy CS Chirchir hints that the Israel-Palestine conflict may impact Kenyan fuel prices, pushing it to Ksh300 per litre
Energy CS Chirchir hints that the Israel-Palestine conflict may impact Kenyan fuel prices, pushing it to Ksh300 per litre.
Speaking before the National Dialogue Committee on Monday, Chirchir said the war, if it continues, will deal a huge blow to global crude prices.
This, he said, will see the prices of fuel hit a record high in the next review by the Energy Petroleum and Regulatory Authority.
“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 and that would literally mean our products going to a high of Ksh300 at the pump,” CS Chirchir told NDC.
The Energy CS was responding to questions on what the ministry is doing to cushion Kenyans from the rising cost of living.
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A litre of petrol is currently retailing at Ksh217 per litre, the highest in history.
Chirchir added that his ministry was doing everything within its power to curtail further hikes which could push Kenyans into an economic crisis.
”So we are almost managing to scale the heights as we chew the gum every day to make sure we do manage this frame,” CS Chirchir noted.
”These are products which are real drivers of inflation so we are consciously working on it on a day-to-day basis to make sure that although it’s a global challenge, we do obtain the best prices for our country.”
Remarks by Energy CS come ahead of the fuel price review by the Energy Petroleum and Regulatory Authority (EPRA).
EPRA reviews fuel prices on the 14th of every month.
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