Kenya’s Energy Cabinet Secretary, Davis Chirchir, has issued a stark warning to Kenyans indicating that households and consumers should prepare for more financial strain at the gas pump.
While addressing the National Dialogue Committee (NDC), CS Chirchir expressed concerns that the ongoing Israel-Hamas conflict could trigger a surge in fuel prices, potentially pushing the prices to a record high of Ksh300 per liter.
The Cabinet Secretary further underscored the global repercussions of the Israel-Hamas war on crude oil prices.
According to the CS, the Israel-Hamas war is poised to further exacerbate the cost of fuel in Kenya. This potential increase is anticipated to have a significant impact on local manufacturers and the general population.
“I read an article in the Financial Times the other day that because of the Hamas and Israeli War, the international prices could go up to USD150. [And] That would literally mean our products going to a high of Ksh300 at the pump,” the CS stated.
This decision will not be taken with joy as most Kenyans are already grappling with rising commodity prices.
The Energy Cabinet Secretary’s remarks came in response to inquiries about the Ministry’s efforts to shield Kenyan citizens from the escalating cost of living.
Currently, the price of one liter of petrol stands at Ksh217, marking the highest historical rate. Earlier this year, Kenyans were purchasing petrol at Ksh177 per liter.
The foreseeable consequence of increasing fuel prices is likely to translate into a greater financial burden for Kenyan households as inflation continues to rise. Families, already grappling with the high cost of living, are expected to face further hardship due to the substantial impact of soaring fuel prices during the Kenya Kwanza administration.
