Fuel prices to continue rising up as Israel-Hamas war to continue (Nation Web)
As Kenyans continue making fusses and grumbling about the escalation of the cost of fuel, the Deputy president predicts that the prices will still go up for as long as Hamas and Israel war is still in progress.
Speaking to section of leaders from Mount Kenya at the Nyeri national golf club, the deputy President pointed out that the impact that the war is making to the nation is beyond what the government can do.
“Another crisis is manifesting around the Palestinians and Israel, and that is not healthy for fuel. Many people have accused the government of escalating the cost of fuel. No responsible government can do that.,” Gachagua said.
He identified that this time round the tax payer will be forced to pay more from their pockets unlike before.
“If we subsidize fuel today, we’ll have to collect that money from somewhere and we will have to add more taxes..so we are saying we cannot subsidize fuel because that money will have to come from somebody, and that money would have to come from the taxpayer,” Gachagua said.
This comes after Energy and Petroleum Regulatory Authority (EPRA) announced new prices last week. The new prices now read at 217.36 for petrol, 205.47 for diesel, 205.06 for kerosene.
However, EPRA defended that due to stabilization that was funded by the Petroleum Development Levy (PDL)., the prices would be reading higher. Petrol which increased by 5.72 shillings should have increased by 8.79 shillings per liter, Diesel by 16.12 instead of 4.48 per liter, Kerosene by 12.25 instead of 2.45 per liter.
Gachagua likened the fuel prices that are being experienced right now in the nation with those of neighboring countries and said that they were all the same.
“And again if you check, the price of fuel here per liter is similar to the price per liter in Tanzania, Uganda, Burundi, Rwanda…and is the same everywhere, the situation is global,” said Gachagua.
The second in command further ascribed that the current financial status of the nation is due to a loan that the government is still trying yo pay owing to the fact that the loan’s interest has raised by 6 to 7 percent which he claims that is close to being impossible to pay. He as well mentioned that the revenue that Kenyans pay to the government, in as much as it is of high value, its craped off by salaries and the repayment of the loan.
“Paying the public debt and paying salaries wipes out Kenya’s Ksh.2.2 trillion revenue collection. We are left without any money for development,” Gachagua added.
The Israel and Hamas war gives no hope of end even as leaders from various continents intervening on it. As of yesterday, 540 Palestine nationals were left homeless after they were forced out of their homes and more properties are still getting destroyed.