Kenyans are breathing a sigh of relief after President Uhuru Kenyatta intervened Thursday to avert what would have been yet another major increase in the price of fuel at the pump.
In a statement issued via State House Spokesman Kanze Dena, President Kenyatta announced he had authorized Sh16.675 billion in extra fuel subsidy to avert the price hike.
“His Excellency the President understands that high fuel prices pose a significant challenge for every Kenyan household and collectively on the economy and our way of life,” said the statement from Kanze.
It went on, “It is notified that His Excellency the President has today authorized an additional fuel subsidy of Ksh.16.675 Billion, so as to cushion Kenyans from a further increase in fuel prices.”
The move by Uhuru means the Energy and Petroleum Regulatory Authority (EPRA) will not increase fuel prices in their monthly review due Thursday hence they remain unchanged.
“With today’s presidential action, diesel will continue to retail at Ksh. 140.00, petrol at Ksh.159.12 and Kerosine at Ksh.127.94. Without such State interventions, the pump prices would have been Ksh. 193.64 for diesel, Ksh.209.95 for petrol and Ksh. 181.13 for Kerosene,” the statement added.
The fresh move announced by the government brings the total fuel subsidies implemented by the government this year through fuel stabilization programme to Sh101.852 billion.
The government has been implementing the subsidy to ease the burden on Kenyans even as the Russia- Ukraine war has pushed the prices up substantially due to supply constraints.
The move only 25 days to general election comes as a relief to consumers amid the rising cost of living and will see fuel prices in Kenya remain the lowest in the East African region.