Treasury CS John Mbadi has revealed the reason in fuel prices between Kenya and Tanzania following recent comparison.
Speaking on Tuesday, the CS noted that the difference in prices is due to the timing in imports and that Tanzania had imported there fuel back in March unlike Kenya who imported in April when the prices were already high.
According to Mbadi, fuel prices in Kenya have not not been overpriced but it is because of the timing of the imports.
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“The difference in fuel prices in Kenya and Tanzania is not too big. Tanzania is still using fuel meant for March this year, while Kenya is currently using fuel brought into the country in April,” he said
He continued by saying that fuel prices in Tanzania and Uganda will rise once they start consuming there April fuel imports.
“In the next two to three weeks, when Tanzania and Uganda begin using their April stocks, their fuel prices will go very high compared to Kenya,” he continued
Mbadi also revealed that the economy of Kenya is larger than that of her neighbours thus requiring huge consumption of fuel.
He however predicted that the prices will ease in June when global prices drop and the recent announcement by President Donald Trump not to bomb Iran any further pending further talks.
When you saw Trump’s announcement yesterday, you could see that global fuel prices have begun going down, and so we expect that if the trend continues, then Kenyans should expect a reduction in prices from June onwards,” said Mbadi