The Kenya Kwanza Economist Hon David Ndii has explained why the Government has re-introduced fuel subsidies despite Ruto campaigning against it in the run up to the 2022 polls.
In a statement via his verified twitter, Ndii detailed that it shows that the Kenya Kwanza Gov’t isn’t stealing from the public.
“Maybe because we are not stealing the money.” Ndii said in a statement.
His remarks came hours after EPRA announced the new fuel prices with subsidies.
Energy Petroleum and Regulatory Authority (EPRA) in announcing fuel prices for the month of August-Semptember, provided a fuel subsidy to cushion Kenyans.
While the prices were to be increased due to “landing price” according to EPRA, that will not happen after Ruto’s government opted to foot some costs.
ln a statement, EPRA said the price of petrol which was to retail for Sh202.01 will now retail at Sh194.68 representing a subsidy of Sh7.33.
The price of diesel which was to retail at Sh183.26 will now retail at Sh179.67 representing a subsidy of Sh3.59.
For Kerosene, the price will retail at Sh169.48 after the government subsidized it from Sh175.22 that it was supposed to be sold. This represents a subsidy of Sh5.75.
“To cushion consumers from the spike in pump prices as a consequence of increased landed costs, the government has opted to stabilise pump prices for the August-September 2023 pricing circle. Oil marketing companies will be compensated from the Petroleum Development Fund,” EPRA Director General Daniel Kiptoo Bargoria said.
