CS John Mbadi Outlines Government Strategy To Counter Hefty Oil Prices

Treasury Cabinet Secretary John Mbadi has credited a strategic agreement with oil marketers for shielding Kenyan consumers from the full impact of surging global oil prices. Speaking during an interview on Ramogi TV on Wednesday, May 13, Mbadi explained that the government negoti..

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Cabinet Secretary for Finance John Mbadi has revealed the Kenyan government's strategy to mitigate the impact of high global oil prices on local consumers.

The government has negotiated a strategic agreement with oil marketers that includes uniform transport costs for fuel, acting as a stabilizer for pump prices.
Treasury Cabinet Secretary John Mbadi explained that without intervention, fuel costs would have been unsustainable due to rising global prices and geopolitical disruptions like the conflict in the Middle East and potential closure of the Strait of Hormuz.
Mbadi emphasized that while these measures soften the blow, Kenya, as an importer of petroleum, remains vulnerable to international market fluctuations and price increases are sometimes unavoidable.