Today, the Kenya Transporters Association Limited issued a statement decrying the high fuel prices in the country. The organization claims that the high fuel prices will likely hamper Kenya's post-COVID-19 economic recovery efforts.
The organisation which represents heavy commercial trucks, also argues that the high fuel prices will make Kenyan goods non-competitive in the East African market.
In the statement that was issued earlier today, the Kenya Transporters Association did a short comparison of the fuel prices between Kenya and Tanzania.
What they found out is that the current Kenyan pump prices are Ksh 109.84 for diesel, and Ksh 129.13 for petrol while in Tanzania Diesel costs Tsh 1,829 (Ksh 85.96) and Tsh 1,887 (Ksh 88.67) with an exhange rate of 1 Tsh = Ksh 0.047.
According to the Kenya Transporters Association, they have an issue with the formula that the Energy Regulatory Authority uses to calculate the fuel prices. The KTA claims that some factors used to calculate fuel prices in the formula are unclear and they eventually push fuel prices at the pump higher.