Kenyans have been urged to brace for higher pump prices following escalation of conflict in the Middle East.
Energy Cabinet Secretary Opiyo Wandayi has said the on and off status of the conflict has led to instability in international oil prices that may likely affect fuel prices in the country.
Wandayi has said uncertainty of the situation at the strait of Hormuz may mean more pain at the pump for Kenyans.
“International bench marks have begun to climb again and this renewed pressure may be reflected in coming pricing cycles.” Wandayi has intimated.
Wandayi has said the government will deploy a subsidy of Ksh. 945 milion from the Petrelum Development Levy to maintain the current prices.
“ This intervention reflects our commitment to protecting consumers, supporting businesses and safeguarding the economy while ensuring petroleum remain affordable.” He has said.
Iran has been attacking ships in the strait that is responsible for 20% of global oil shipping in response to strikes by Israel and its allies on its key infrastructure.
The Cabinet Secretary has told Kenyans that external factors such as the war is beyond the government control.
Wandayi has however assured Kenyans of availability of fuel stock in the country saying the same has been achieved as a result of the G to G arrangement with oil producing nations.
“Under the Government to Government arrangement we have been able to acieve steady and uninterrupted supply of petroeleum products.” The CS has said.
The Energy and Petroleum Authority is expected to announce new fuel prices today.
