Deputy President Urges Calm Amid Rising Oil Prices
Deputy President Kithure Kindiki has called on Kenyans to remain calm as the government works to address the impact of rising global oil prices. Speaking at his residence in Irunduni during a meeting with residents from Chuka Igambang’ombe, Kindiki highlighted that the surge in fuel costs is primarily driven by external geopolitical tensions rather than domestic issues.
External Factors Behind the Price Surge
Kindiki attributed the recent increase in oil prices to the Israel-Iran conflict, emphasizing that demonstrations or protests would not lead to lower prices. “Those calling for oil protests should understand that demonstrations will not bring prices down,” he stated. He also dismissed claims that local policy failures were responsible for the price hikes, noting that Kenya is largely a price taker in the global oil market.
The volatility in international crude oil prices has directly affected local pump prices, according to Kindiki. He reassured the public that the government is actively working to prevent the situation from escalating into a broader economic crisis.
“I am confident that the current pressure on oil prices will not destabilise our economy. We ask Kenyans to be patient as we address the issue,” he said.
Fiscal Interventions and Future Measures
Kindiki pointed to ongoing fiscal interventions, including the reduction of Value Added Tax (VAT) on petroleum products from 13 percent to 8 percent. This adjustment, he said, has helped lower pump prices by up to Sh10 per litre. He added that additional policy measures are under consideration to further cushion consumers from global shocks and stabilize fuel prices in the coming weeks.
“We will take more steps to ensure oil prices drop further,” Kindiki said, though he did not disclose specific upcoming interventions.
Political Unity and Governance
On the political front, Kindiki called for tolerance among leaders, urging that electoral competition should not translate into hostility after elections. He emphasized the need for unity in governance regardless of political affiliation.
“Competition is not enmity. Once voting is complete, winners will proceed to lead, while others will wait for another opportunity,” he said.
He also addressed critics of the Kenya Kwanza administration, stating that calls for opposition against the government were misplaced and politically motivated.
“We have had many presidents and deputy presidents, but not once have we sustained chants of ‘one term’. Even those who lost did so with our votes in their basket,” he added.
Conclusion
As the government continues to navigate the challenges posed by global oil price fluctuations, Kindiki’s message underscores the importance of patience, unity, and collective effort. With ongoing fiscal adjustments and potential future measures, the focus remains on stabilizing the economy and protecting Kenyan consumers from the adverse effects of external market dynamics.
