Short-time measures in taming fuel prices for the Kenyan consumer
Abstract
The cry among Kenyans over soaring fuel prices will continue getting louder unless urgent measures are taken to ease the burden on the consumer.
While I empathise with them, the truth is that the global supply chain of fossil fuels has been affected due to several reasons. First, the prices of crude oil are going up because OPEC has restricted supply.
The ongoing Russia-Ukraine war has constrained oil supply, thus leading to high prices. In addition, the Northern Hemisphere is entering its winter season, which has hiked demand sharply. The current trends of oil prices on the regional and international markets have increased.