Ruto defends fuel prices strategy amid geopolitical oil market pressures

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NAIROBI, Kenya, Jun 14— President William Ruto has reaffirmed his commitment to stabilising fuel prices after EPRA announced a Sh10 diesel cut supported by a Sh10 billion subsidy.Speaking during a church service at Nkarusha Seventh Day Adventist Church in Kajiado County on Sunday, Ruto said the government remains committed to moderating fuel prices and ensuring stable supply of petroleum products despite escalating geopolitical tensions that have pushed up global crude oil prices.The remarks came hours after the Energy and Petroleum Regulatory Authority (EPRA) announced a Sh10 per litre reduction in diesel prices, lowering the pump price in Nairobi to Sh222.86 effective midnight.Super Petrol fell marginally by 22 cents to Sh214.03 per litre, while kerosene remained unchanged at Sh191.38 per litre.Ruto attributed the price relief to deliberate government interventions aimed at protecting consumers and businesses from international market volatility.“You know because of the problems involving Iran and other global developments, oil prices have risen across the world,” Ruto said.“Some neighbouring countries experienced fuel shortages, with motorists spending two or three days queuing at petrol stations. In Kenya, we ensured fuel was available across the country and used the resources at our disposal to moderate prices.”The President said the latest fuel prices reflect the government’s commitment to easing pressure on households and businesses grappling with the high cost of living.“New prices have been announced and diesel has reduced by Sh10 per litre. We will continue moving in that direction to ensure that as a nation we keep progressing together,” he said.The diesel price cut follows the government’s drawdown of approximately Sh10 billion from the Petroleum Development Levy Fund to cushion consumers from rising international fuel costs.In its latest pricing review, EPRA said the subsidy was used to stabilise diesel and kerosene prices despite pressure from global markets.“The Government will in this cycle cushion consumers through the Petroleum Development Levy Fund by utilizing approximately Sh10 billion to subsidise the prices of Diesel and Kerosene,” EPRA said.The regulator noted that while the average landed cost of imported petrol declined slightly during the review period, diesel costs increased, highlighting the continued impact of global market dynamics on local pump prices.Ruto linked the fuel intervention to broader efforts to stabilise the economy, arguing that targeted subsidies and policy measures were helping Kenya navigate global economic uncertainty.He also urged political leaders to focus on presenting alternative policy proposals rather than criticising government programmes, saying national progress depends on constructive debate.“There is no need to divide Kenyans. If you disagree with a policy, tell us what alternative you are offering. That is how we will make progress as a country,” he said.Kenya remains heavily exposed to global oil price fluctuations due to its reliance on imported refined petroleum products.As a result, changes in international crude prices, exchange rates and geopolitical developments continue to directly influence domestic fuel costs.