Kenya has reinstated a small subsidy to stabilise retail fuel prices for the next 30 days, the energy regulator said, in a reversal of government policy after public anger over the high cost of living.
After taking office in September, President William Ruto removed fuel and maize flour subsidies put in place by his predecessor, saying he preferred subsidising production rather than consumption.
The move was also aimed at cutting government spending as the government seeks to get a handle on debt repayments that have forced it to deny market speculation about a possible default.
But the subsidy cuts as well as recent tax hikes have increased living costs and contributed to violent anti-government protests in recent months.
The Energy and Petroleum Regulatory Authority (EPRA) said late on Monday that the maximum retail price of a litre (0.26gal) of petrol would remain constant at 194.68 shillings ($1.35), shielding consumers from an increase of 7.33 shillings ($0.05), which the government will shoulder through a price stabilisation fund.
Retail fuel prices are set in the middle of each month. The government also applied small subsidies on kerosene and diesel, EPRA said.
The regulator did not provide an explanation for the government’s decision. Officials from EPRA, the Ministry of Energy, and the National Treasury and Economic Planning did not immediately respond to requests for comment.
Fuel prices shot up when Ruto removed the subsidies. They spiked again in July after the government pushed a contentious law through parliament that doubled the fuel tax.
The protests organised in response to that law were called off last month after the opposition and Ruto agreed to talks to resolve their differences, the second such attempt this year.
Both sides agreed that opposition to a financial bill signed into law in June “should be decided in court”, where it is being challenged by the opposition. In July, an appeals court lifted a suspension placed on a law that would double the value-added tax on fuel and introduce a new housing levy.
Source; Al Jazeera
Follow us on:
Gbadebo Rhodes-Vivour has condemned the commercialisation of GMO seeds, warning of threats to Nigeria’s food…
Oleksandr Usyk has secured victory over Tyson Fury in Riyadh, successfully defending his heavyweight championship…
Albania plans a one-year TikTok ban from January after a schoolboy’s death sparks concerns over…
A suspect accused of killing five people by driving into a crowded Christmas market in…
A US Navy F/A-18 Hornet was mistakenly shot down over the Red Sea by the…
NNPC has reduced petrol ex-depot price to N899 per litre, sparking competition with Dangote Refinery…
View Comments
E.G......
Mama Africa #17,000 •Tomatoes Rice # *15,000* •Cap Rice #15,000 •My Food #17,000 •Mama Gold #17,500 •Ade Brazil #15,000 •Elephant Gold #15,000 •Royal Umbrella #15,000 Etc.
GOIF3 ₦400,000
GOIF4 ₦N550,000
Toyota Camry Tiny Light ₦N550,000
Toyota Corolla ₦N700,000
Toyota 4Runner ₦850,000
Toyota Avalon ₦700,000
Toyota Highlander ₦900,000
Toyota Matrix #N700,000
Toyota Rav4 ₦780,000
Toyota Sequoia ₦900,000
Toyota Tacoma ₦1.2M
Toyota Tundra ₦1.8M
Toyota Yaris ₦650,000
Honda Baby Boy ₦450,000
Honda Accord EOD ₦600,000
Honda City ₦550,000
Honda Crosstour ₦2.6M
Honda CR-V ₦800,000.
Honda Odyssey ₦650,000
Honda Pilot ₦950,000
Lexus RX300 ₦1.4Million
Lexus RX330 ₦1.7Million
Lexus RX350 ₦2.4Million
Land Rover Discovery ₦3.2Million
Land Rover Freelander ₦3.6Million
Land Range Rover Sport ₦4Million
Acura MDX ₦1.8Million
Audi A4 ₦500,000
Audi A6 ₦700,000
BMW 3-Series ₦1.3Million
BMW 5-Series ₦1.6Million
BMW X5 ₦1.8Million
BMW X6 ₦2.3Million
Infiniti FX35 ₦1.9Million
Infiniti FX45 ₦2.Million
Infiniti QX4 ₦2.1Million
Mazda 626 ₦600,000
Mazda MPV ₦640,000
Mercedes-Benz C-Class ₦1.3Million
Mercedes-Benz E-Class ₦1.8Million
Mercedes-Benz GLK ₦3.Million
Mercedes-Benxz ML320 ₦.1Million
Mercedes-Benz ML350 ₦1.3Million
Nissan Altima ₦1.Million
Nissan Armanda ₦1.Million
Nissan Maxima ₦.1Million.......O7O 4540 6674