HomeBusiness NewsPresident Ruto to address the nation amid fuel price strike

President Ruto to address the nation amid fuel price strike

President William Ruto is expected to address the nation on Friday morning from Mombasa amid protests following the hiked fuel prices.

On Thursday, the Head of State had already met stakeholders in the matatu industry who had initially protested the fuel prices before calling off the strike to pave the way for negotiations.

Immediately after the strike was called off for seven days, the government reduced the price of diesel by Ksh 10.06 but hiked the price of kerosene by Ksh 38.6 per litre, setting the stage for further discussions.

Despite the reduction, the current prices are pushing the prices of commodities up at a time when inflation is expected to hit its peak and will be confirmed in June by the Treasury.

The transport sector, for example, has called on its members to hike fares by almost 50%, a multiplier effect that will be felt by Kenyans, who will in turn hike the prices of other commodities.

The electricity price in the country is also expected to hike, resulting in increased prices of other commodities by manufacturers who will be looking to transfer the extra charge to the consumer.

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