Deputy President Kithure Kindiki has assured Kenyans that the Government has already implemented urgent interventions to mitigate the sharp rise in fuel prices caused by the US-Israel-Iran war and the closure of the Strait of Hormuz.
In a statement issued on Monday May 18, the Deputy President detailed the measures taken so far and warned against any criminal acts during public protests.
“The Government of Kenya has taken decisive and timely measures to mitigate the effects of the unprecedented spike in global fuel prices occasioned by the ongoing US-Israel-Iran war,” DP Kindiki said.
“With the effective closure of the Strait of Hormuz, vessels are now forced to take much longer routes, while insurance costs have soared to record highs.”
To ease the burden, Kindiki said the government has reduced Value Added Tax (VAT) on fuel from 16% to 8%. Additionally, KSh 12 billion from the fuel stabilization fund has been deployed to stabilize pump prices.
“Otherwise the prices would have shot to 300 shillings per litre by now,” he noted.
He further stated that President William Ruto has directed an inter-ministerial team comprising Cabinet Secretaries responsible for the National Treasury, Energy, Transport, and Interior to engage with stakeholders and identify further interventions required.
“The President has ordered an interministerial engagement of Cabinet Secretaries responsible for the National Treasury, Energy, Transport and Interior to engage with stakeholders to see what additional measures are necessary, and to make sure normalcy in the transport sector returns as soon as possible,” Kindiki said.
While acknowledging the public’s right to demonstrate over the prevailing economic hardships, the Deputy President issued a strong warning against any descent into lawlessness.
Kindiki urged Kenyans to remain calm and patient as the government explores additional measures to shield the economy from further damage.
“The public is requested to exercise calm and patience as the Government contemplates additional measures to ensure that fuel prices do not rise to levels that will cause serious damage to the economy,” Kindiki urged
