The pump price is expected to go down following the allocation of Sh6.7 billion as a fuel subsidy by Members of Parliament.
The subsidy is to cushion Kenyans from the rising cost of petroleum products.
The money shall be channeled through the development levy fund. This is according to the budget committee in the national assembly.
The surge in fuel prices resulted from an increase in Sh5 of petrol and diesel by the Energy and Petroleum Regulatory Authority (EPRA)due to the global increase in oil prices.
The hike in prices has been significantly felt countrywide, with services that depend on fuel increasing their operating costs and consequently having the consumers bear the high cost of services.
Through a statement to caution consumers over an increment in transport cost, the Kenya Transporters Association (KTA) asked its members to increase freight charges by five percent, arguing that they can no longer absorb the additional costs brought about by high fuel prices.
Meanwhile, Members of Parliament have set a further Sh5 billion to cushion Kenyans for the financial year 2022/2023.
“The Department (Petroleum) will receive an additional Sh5 billion in the 2022 BPS (Budget Policy Statement) that will cater for oil market price stabilisation,” the committee said in a recommendation on 2022/2023 Budget Policy Statement tabled earlier by Treasury Cabinet Secretary Ukur Yatani.