MPS PASS SH10 BLLION FUEL STABILISATION PLAN

The National Assembly of Kenya has approved a Sh10 billion allocation to help stabilise the price of fuel in the country.

In a sitting on Thursday March 31, the Budget and Appropriation Committee chairman Kanini Kega moved the Supplementary Appropriation Bill which received overwhelming support.

According to the Bill, the National Treasury will pay billions of shillings to oil marketers over two months, starting with April, to keep pump prices unchanged despite an increase in the cost of ferrying the commodity.

Drumming up support for the motion, the MP urged his colleagues to pass the allocation to cushion Kenyans against the rising price of fuel across the globe.

“The crisis that we see in the world has not spared Kenya. Fuel prices in Kenya are a bit lower than in Uganda due to the fuel subsidy. In Uganda, a litre goes for Sh160 while in Kenya at Sh134,” Kega said.

Thanks to the current Petroleum Development Levy that is already in place, for the first time in months, diesel price in Kenya costs less than in any other East African country.