Wednesday, October 4, 2023 – President William Ruto is solely to blame for the high fuel prices.
This was revealed by former Prime Minister Raila Odinga’s Azimio during its presentation to the National Dialogue Committee.
Led by former Laikipia Governor Nderitu Mureithi, the Azimio brigade blamed the government’s oil deal with gulf states for the hike in fuel prices.
Kenya in March signed a deal with Saudi and United Arab Emirates oil companies to supply fuel on credit, a move that was expected to bring down prices and slow down the depreciation of the shilling.
According to Muriithi, the high interest rates in the government oil deal which is passed to customers is the reason fuel prices have soared.
”On the G-to-G program, it did not address any of the issues on the cost of living, it actually added cost,” the former governor noted.
The former Governor added that the oil deal interest rates on the LCs and loss in exchange rates had contributed to the high fuel taxation.
”The reason fuel prices in general went up is because of the effect of G-G it is not due to international crude prices and we have demonstrated so to the committee,” he noted.
At the same time, Mureithi called out the government for attributing the current inflation to the international crude oil prices.
“We must stimulate production by reducing interest rates, we must reduce taxation on energy, fuel, food, and taxation to SMEs,” added Nderitu Mureithi.
He further proposed that the government repeal the Finance Act 2022 in its entirety to enforce the reduction of taxes.
The Kenyan DAILY POST
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