By Bonface Mulyungi
The government now says fuel prices could come down sooner than expected, driven by easing pressures in the international market.
Energy and Petroleum Cabinet Secretary Opiyo Wandayi says changing demand and supply patterns across global markets are showing early signs of a possible drop in fuel prices. He adds that the government has also stepped up measures to stabilize fuel supply across the country and prevent any disruption in availability.
After weeks of uncertainty over fuel prices, there may finally be a glimmer of hope for motorists and households across the country.
The energy and petroleum ministry is now signaling a possible drop in prices at the pump, as global market pressures that have driven the cost of fuel higher begin to ease.
Energy and petroleum CS Opiyo Wandayi says early indicators from the international market show that changes in global demand and supply patterns are slowly helping to stabilize prices.
“There are early signs that global pressures may begin to ease. Changes in demand patterns are gradually stabilizing international markets.”
Wandayi says that while the global energy market remains volatile, the trend is encouraging and could soon translate into lower fuel costs for Kenyan consumers. With the next fuel price review expected in about two weeks, many Kenyans will now be watching closely for possible relief at the pump.
“While the situation remains fluid and unpredictable, the direction is encouraging. In the fullness of time, as global conditions stabilize, Kenyans can expect the benefits progressively,” the CS stated.
The CS has also defended the government-to-government fuel import deal, saying the arrangement has played a critical role in maintaining a steady supply of fuel and preventing a crisis in the country.
This even as some countries in the region continue to experience acute fuel shortages, with some petrol stations remaining dry for days due to disrupted supplies.
“The country continues to enjoy security of supply. I am appealing to oil marketing companies to move with speed and uplift the fuel allocated in the system so that we can be able to discharge more.”
The energy and petroleum ministry now says more ships carrying fuel have started lining up at the port of Mombasa, in a sign that supply chains are steadily normalizing.
