The sports category has moved to a new website.

MPs pass Sh10 billion fuel stabilisation plan

Good news for Kenyan motorists who have been paying through the nose for fuel

A pump attendant fills the tank of a car at a petrol station in September 4, 2018

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.

ADVERTISEMENT

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.

A litre of diesel costs Sh112.63 on average in Kenya, compared to Sh118.44, Sh139.08 and Sh149.91 in Tanzania, Uganda, and Burundi, respectively.

Kenya implemented the subsidy on April 14, 2021, as part of an attempt to quell public outrage over the expensive cost of fuel which trickled down to other necessities.

ADVERTISEMENT

In many countries, fuel costs have reached a new all-time high, creating a dent in the pockets of consumers.

Also included in the Supplementary Appropriation Bill is the allocation of Sh4.9 billion for the National Government Constituency Development Fund (NGCDF).

As the current term of Parliament draws to a conclusion, the funds will be used to help finish projects that have stalled in constituencies across the country.

To help Kenyans cope with the devastating drought, Sh15 billion has been set aside to buy food and animals from drought-affected communities.

JOIN OUR PULSE COMMUNITY!

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

How data privacy laws are changing banking services in Africa

How data privacy laws are changing banking services in Africa

How Moody's downgrade of Kenya's currency ceiling will affect citizens & businesses

How Moody's downgrade of Kenya's currency ceiling will affect citizens & businesses

Measures business owners can adopt to prevent looting during social unrests

Measures business owners can adopt to prevent looting during social unrests

Moving to a new house? How to tell if the prepaid token meter has been updated

Moving to a new house? How to tell if the prepaid token meter has been updated

Key achievements of late KRA boss Michael Waweru during Kibaki era

Key achievements of late KRA boss Michael Waweru during Kibaki era

Key tips for an amazing X Spaces experience ahead of Ruto's engagement with Kenyans

Key tips for an amazing X Spaces experience ahead of Ruto's engagement with Kenyans

Gov't Sh20billion bond misses target by 97%, signaling investor jitters

Gov't Sh20billion bond misses target by 97%, signaling investor jitters

UAP Insurance & other prominent businesses affiliated with ex-UoN Chancellor Joe Wanjui

UAP Insurance & other prominent businesses affiliated with ex-UoN Chancellor Joe Wanjui

Safaricom CEO issues statement amid public scrutiny

Safaricom CEO issues statement amid public scrutiny

ADVERTISEMENT