President Kenyatta directs CSes for Petroleum and National Treasury to develop a fuel price stabilization framework by Christmas

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President Uhuru Kenyatta chose to use his last Mashujaa Day celebrations, as President, to make a raft of post Covid-19 socio-economic interventions including a call for stabilization of fuel prices as a Christmas gift for Kenyan consumers.

The President directed Petroleum Cabinet Secretary John Munyes and his National Treasury counterpart Ukur Yattani to ensure a fuel price stabilization mechanism is in place by December 24, 2021.

The move comes in the wake of continued public hue and cry over the surge in fuel prices largely blamed on the high cost of crude as well as levies and taxes.

The government has been collecting Sh5.40 per litre of fuel since July 2020 – a figure analysts estimate to be at least Sh30bn to date.

Cofek has also petitioned the National Assembly to review the ‘opague’ Open Tender System (OTS) of procurement where an average 13 out of over 90 companies win the same tendering on a monthly basis.

President Kenyatta also lifted the dawn to dusk curfew that was in place since March 2020

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