Ichung’wah Dismisses Raila’s Call For Fuel Prices To Be Reduced By Sh50

 

National Assembly Majority leader Kimani Ichung’wah has dismissed calls by Azimio La Umoja One Kenya leader Raila Odinga for the government to reduce fuel costs by Sh50.

Speaking during a church service attended by President William Ruto in Kimende Kiambu, Ichung’wah stated that oil prices are influenced by demand and supply.

“I have heard him say that the prices of fuel should reduce by Sh45, but I am surprised how he arrived at the figure because the price of fuel is determined by supply and demand and the forces of the economy,” he stated.

He further pointed out that the government has put in place measures to stabilize fuels costs in Kenya.

In the one-month review, shared by EPRA as of November 15, the price of super petrol remained unchanged at Sh217.36 per litre in Nairobi while diesel and kerosene dropped by Sh2.

Diesel is retailing at Sh203.47, while a litre of kerosene retails at Sh203.06.

Director General Daniel Kiptoo noted that consumers will not bear the burden despite the average landed cost of imported super petrol having increased by 2.81 per cent per cubic metre in October, diesel by 3.28 per cent and kerosene by 6.31 per cent.

Odinga had called for the reduction of fuel prices by between Sh45 and Sh50 saying that global oil prices have reduced.

According to Odinga, it is unfair for the Energy and Petroleum Regulatory Authority (EPRA) not to reduce the prices of petroleum in the wake of what’s happening in the world market where prices have dropped.

He stated that the prices should be reduced by to cushion Kenyans from the pressure caused by the high cost of living.

“With the price of petroleum products having dropped in the world market, Azimio la Umoja Coalition demands that local prices should be reduced by Sh45 or Sh50,” he said.

Earlier, the government warned that motorists may face the grim possibility of fuel prices reaching a high of Sh300 per liter soon, driven by escalating tensions in the Middle East.

The warning by Energy Cabinet Secretary Davis Chirchir indicated that it could surge by as much as Sh80 per liter, a significant increase from the current Sh217 per liter, primarily attributing this alarming forecast to the ongoing turmoil in the Middle East.

Chirchir outlined the looming crisis during a meeting with the National Dialogue Committee, stressing that the price of crude oil could skyrocket to as much as $150 per barrel if the conflict in the Gaza Strip between Israel and Hamas persists.

“We can’t do much when it comes to international pricing of petroleum which has soared from $70 per barrel and I read an article from the Financial Times that the prices could go up to $150 due to the Israel-Hamas war,” he said.

That, he said, “could literally mean our prices going up to Sh300 per liter but we hope it doesn’t get there.”

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