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Fuel prices hit record high in Kenya
Kenya’s energy regulatory agency, the Energy and Petroleum Regulatory Authority (EPRA), has recently announced the highest fuel prices hike in recent memory, eliciting anger from many within the country.
Overnight, the price of petrol surged to approximately 212 shillings ($1.40) per litre in the capital city of Nairobi, with various fuel types experiencing increases ranging from 9% to 20%.
This decision comes despite widespread protests across the country in recent months against the soaring cost of living and the government’s economic policies.
President William Ruto’s chief economic adviser, David Ndii, expressed concerns, stating on social media that the situation is “painful” and may not yield positive results. He emphasized that he wouldn’t provide false hope to Kenyans.
Both Mr. Ndii and the escalating fuel prices have become trending topics on various social media platforms.
The Director General of the Authority, Daniel Kiptoo Bargoria, pointed out that the rise in prices could be attributed to the weighted average cost of imported refined petroleum products. He also said that prices were outside of the government’s control, attributing the high prices to production cuts by the Organization of Petroleum Exporting Countries (OPEC) of at least 4% of the global daily demand.
A lot of Kenyan citizens say were misguided in believing that the current president and government had any viable plans to improve the country’s economy.
President Ruto had removed fuel subsidies shortly after taking office in September of the previous year.
