Parliament moves to tame high fuel prices ahead of monthly review
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Parliament meets Energy officials to strategize on how to cushion Kenyans against high fuel prices ahead of monthly review
Parliament meets Energy officials to strategize on how to cushion Kenyans against high fuel prices ahead of monthly review.
On Monday, June 12, members of the parliament met with representatives from the Ministry of Energy to discuss ways to protect Kenyans from rising fuel prices, which reached the Ksh180 mark the previous month.
The National Assembly Departmental Committee on Energy and a delegation from the Ministry of Energy called the meeting, which mostly discussed the government’s strategies for collecting revenue from the sector.
Notably, the meeting was held two days ahead of the Energy and Petroleum Regulatory Authority’s (EPRA) monthly fuel review.
“The meeting sought to scrutinize internally generated revenue and explore viable measures to curb escalating prices that have burdened consumers countrywide.
“Led by policymakers devoted to ensuring a sustainable and affordable energy sector, the meeting focused on formulating strategies to alleviate the financial strain on Kenyan citizens,” read the statement released by Parliament.
Despite the Committee staying clear on the timelines when the strategies would be implemented, the chairperson – Mwala MP Vincent Musyoka- maintained a commitment to reduce the fuel cost.
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“The budget presentations provided valuable insights into the financial aspects of the energy sector, enabling the committee to understand the funding requirements, allocation priorities, and financial transparency.
“This meeting provides a platform for comprehensive discussions on the challenges faced by consumers about the rising prices of petroleum products,” the chair stated.
Despite the government choosing to import fuel products using Kenyan shillings rather than dollars, fuel prices have increased starting January 2023.
Many had anticipated a decrease in prices, but the administration insisted that the agreement with Saudi Arabia was meant to relieve pressure on the dollar.
Meanwhile, Kenyans are currently bracing for higher fuel prices as a result of proposals to increase the VAT on fuel goods from 8% to 16%.
EPRA will announce fuel prices for June/July on Wednesday, June 14.
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