The price of a liter of Super Petrol could hit the Ksh 300 mark if the Israel-Hamas conflict persists.
This is according to Energy Cabinet Secretary Davis Chirchir who appeared before the National Dialogue Committee on Monday as it probes the rising cost of living.
CS Chirchir told the committee that petroleum product prices could rise to 150 USD per barrel if the conflict in the Gaza Strip continues adding that the government-to-government collaboration could soften the blow at the Pump.
The Energy CS revelations come after the National Dialogue Committee Monday held its last consultation with Economic experts to discuss the rising cost of living.
He further said the escalating tensions in the region hinder key transit routes for seaborne cargoes of oil and gas from the Middle East to the global market, threatening the central bank’s efforts to control inflation.
This as Treasury Cabinet Secretary Professor Njunguna Ndungu told the committee the government is addressing the cost of living by increasing the supply of food to offset the effects of the current economic hardships.
Meanwhile, Housing Principal Secretary Charles Hinga continued to defend the affordable housing project as key in creating employment and boosting revenue.
However, Economic experts argued that increased taxation, debt crisis, and corruption have worsened the economy.
The committee is working against time to beat the 30-day deadline that ends on the 22nd of this month.
