Why Fuel Prices Will Not Drop: CS Munyes

  • An-Image-of-a-Car-Fuelling-At-a-Petrol-Station
    An Image of Car Fueling at a Petrol Station
  • Petroleum Cabinet Secretary, John Munyes, has stated that the fuel prices will not drop anytime soon citing external factors.

    While appearing before the Senate on Monday, October 4, Munyes explained that the government could not reduce the prices of fuel because the costs are determined by a formula.

    “The cargos will close on October 10, 2021, and therefore, it is at that time that we will know whether they are going up or down. So it is not rocket science. It is not something that I can say I will do because it is a formula that determines the price,” Munyes affirmed.

    An undated photo of Petroleum CS John Munyes in Parliament
    An undated photo of Petroleum CS John Munyes in Parliament
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    The CS added that his ministry has over the past months tried to stabilize the prices of fuel further shifting blame to the National treasury.

    “Out of the Ksh32 billion from the Petroleum Development Fund, we spent Ksh8.6 billion in the past five months to stabilise fuel prices. We did not receive any money in September. The National Treasury is best placed to explain why they have not disbursed the money to us. It is for that reason I wanted my National Treasury counterpart to be part of this meeting,” the CS added.

    Senators additionally pressed the CS to comment on remarks made by his interior counterpart, Fred Matiangi, over the reduction of fuel prices.

    "A colleague member in the cabinet, CS Matiangi, and the former prime minister indicated in their events that the fuel prices will come down this week. Can you indicate to Kenyans when to expect price reductions?" Nandi Senator Samson Cherargei asked.

    Munyes was hesitant to comment on the remarks, stating that the prices would be reviewed after October 10, 2021.

    "I don’t want to respond to comments from my colleagues if they stated that prices will be coming down or not. What I can only say is that we wait for the tenth because of the conversations I stated," Munyes responded.

    On September 3, 2021, Matiangi revealed that the government would implement speedy reforms in the energy sector to ensure that the prices of fuel drop.

    "In the coming weeks, we will launch an aggressive program to address the challenges in the energy sector. We are certain that the prices of fuel will not only come down but even the bills and the costs of electricity we are paying will come down," Matiangi expressed.

    Additionally, speaking in Bungoma on Saturday, October 2, Raila had asserted that fuel prices were expected to reduce in the coming week.

    The Petroleum CS  was summoned by the senate to explain the recent hike in fuel prices.

    ODM part leader Raila Odinga(Right) with Interior Cabinet Secretary Fred Matiang'i
    ODM part leader Raila Odinga(Right) with Interior Cabinet Secretary Fred Matiang'i at a past event
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