Kenya’s president Uhuru Kenyatta recently rolled out a fresh round of fuel subsidies in a bid to prevent a rise in prices at the pump. Picture: Timothy Bernard.
Cape Town – Kenya’s president Uhuru Kenyatta has rolled out a fresh round of fuel subsidies in a bid to prevent a rise in prices at the pump, local Kenya media reported.
As of June, the price of petrol per litre costs kes (Kenyan shilling) 152.135 per litre (R21.90).
The Energy and Petroleum Regulatory Authority (Epra) was expected to raise fuel prices to a new record high after the Treasury announced that it was gradually withdrawing the fuel subsidy to ease pressure on government coffers.
Uhuru Kenyatta authorised a Sh16.67bn subsidy to retain the current fuel prices.
Kenya has used the fund to cushion consumers in the wake of a global rally in crude prices since last year with the government allocating over Sh100bn for the programme in the 2021 – 22 and 2022 – 2023 financial years, according to local media.
With the rising cost of basic essentials such as fuel, food and electricity, Kenyans are battling to make ends meet.
The cost of living worsens in the East African country after prices of goods and services increased by 7.1% in May, the highest level in two years, Kenyan news media outlet “The Standard” reports.
Upcoming elections
The Inter-Governmental Authority on Development (Igad) has appointed Dr Mulatu Teshome, Ethiopia’s former president, to lead its observer mission in the forthcoming Kenyan general election.
Kenyans head to the polls on August 9.
IOL