The rise of pump prices experienced in the Kenyan Market in the few past months has seen common mwananchi struggle to survive. Though pressure has been put on Epra on the latest rise, nothing much has been done and the price change has already taken effect.
In its defence, Epra said the pricing is in accordance with the Energy (Petroleum Pricing) Regulations 2010.The pricing is determined using a predetermined formula enshrined in Law.
Fuel prices are affected by many factors which at the moment are volatile i.e. value of the shilling, tax, levies. In turn fuel prices also affect major factors in the economy i.e. electricity, cost of production, among many others. This means each one of us is affected in one way or the other, be it a consumer, sole proprietor or a company or its employees.
The consumers are struggling to adjust to the new prices. Unfortunately since the impact of the Pandemic on common man’s pocket has been devastating most of the people are resulting to reduction in consumption of some affected products since they are outstretched. This means in as much as the suppliers and producers want to transfer the price change to the consumer, the rise in price of commodities is leading to consumers reducing their consumption.
This has in turn led to closure of most business rendering many hopeless.
Key stakeholders in both public and private sectors are trying their level best to keep the economy afloat by setting up policies and measures to counter the current volatile market. Common mwananchi is equally trying to manage their existence amid the pandemic and tough economic environment too. We can only hope for the best for all, better days are ahead, we have to get through this.
Survival is for the fittest!
By: Esther Kivisi
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