Energy CS OPIYO WANDAYI now reveals why he has failed to reduce fuel prices despite expectations from Kenyans

Thursday, August 22, 2024 - Energy and Petroleum Cabinet Secretary Opiyo Wandayi has revealed why fuel prices have remained high despite government efforts.

Speaking during a tour of the Kenya Pipeline Corporation (KPC) headquarters, Wandayi gave insight into factors affecting fuel prices, revealing that the government is working towards addressing inefficiencies in a bid to drive pump prices downwards.

He listed the landing cost, taxation regime as well as transport and storage costs as the main elements that determine how oil marketers price the component.

The CS reiterated that the government has very little control over this particular cost. 

He therefore proceeded to stress that the government must find alternative ways of reducing pump prices.

"It depends on so many other factors out there," he stated.

The CS hinted that the government is eyeing external markets with the view of leveraging Kenya's expansive energy infrastructure to generate revenues from underutilized resources.

In the most recent review conducted by the Energy Petroleum Regulatory Authority (EPRA), fuel prices remained unchanged.

The review will apply for the period running from August 15 to September 14. Kerosene will retail at Ksh161.75, Super Petrol at Ksh188.84, and Diesel at Ksh171.60 in Nairobi.

Immediately after taking over the Energy and Petroleum docket from his predecessor Davis Chirchir, one of the promises that Wandayi made was to reduce the cost of power and fuel, but he is yet to realize that.

The Kenyan DAILY POST