The Ministry of Energy and Petroleum has hinted at a possible gradual reduction in fuel prices in the coming months, citing early signs of stabilisation in the global oil market.

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Addressing the press on Friday, May 29, Energy and Petroleum Cabinet Secretary Opiyo Wandayi said that although global oil prices have risen in recent months, there are signs that international market pressures could soon ease.

“Changes in demand patterns and improved supply routines are gradually stabilising international markets,” Wandayi told Kenyans.

While cautioning that the global situation remains unpredictable, he expressed optimism that Kenyans would progressively begin to feel the benefits once international market conditions improve further.

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“In the fullness of time, as global conditions stabilise, Kenyans can expect the benefits to be felt progressively through the system,” he added.

His remarks come amid public concern over high fuel prices following recent increases announced by the Energy and Petroleum Regulatory Authority (EPRA), which triggered protests by transport operators.

He further assured Kenyans that the country’s fuel supply remains secure, accessible and stable despite recent fluctuations in international oil prices.

The CS maintained that Kenya is not facing any fuel shortage, attributing the stable supply to the G-to-G fuel importation arrangement, which he said has cushioned the country against supply shocks.

“It may look like a miracle that in Kenya the debate has been about price and not availability,” Wandayi stated, noting that several countries have struggled with fuel shortages amid global market instability.

According to him, the G-to-G framework has enabled Kenya to diversify its fuel sourcing routes, with cargo now being imported from multiple international supply points, including Europe, the U.S Gulf Coast, India and the Red Sea region.

📰 Source: Kenyans.co.ke