Ndindi Nyoro fronts formula to take pump prices below Sh200 mark
Originally published by News – Capital FM — Read the original article →
NAIROBI, Kenya, Oct 17 — The People’s Party of Kenya has proposed cutting petrol prices by Sh29 per litre to Sh197.96 and diesel to Sh198.77, calling for lower industry margins, a Sh5.5 billion subsidy and a reduction in the fuel levy following the latest increase in pump prices.
In a statement released on Saturday, the Ndindi Nyoro-led party criticised the government over the higher prices, proposing three interventions that it says could reduce the cost of fuel without factoring in any further reduction in Value Added Tax (VAT).
The proposals come amid growing scrutiny of the Energy and Petroleum Regulatory Authority’s (EPRA) latest pricing review, which raised petrol, diesel and kerosene prices in Nairobi for the October 15 to November 14 cycle.
