A decision by Kenya to reinstate a small cushion to stabilise retail fuel prices has triggered jitters among global investors on the State’s commitment to austerity and its ability to secure refinancing deals to clear huge external repayments.
The Energy and Petroleum Regulatory Authority (Epra) has cushioned consumers of super petrol, diesel, and kerosene to the tune of Sh7.33, Sh3.59, and Sh5.74 per litre, respectively, in the current monthly pricing cycle, in a reversal of government policy following public anger over the high cost of living.
