Speaking on the matter, Nyoro noted that diesel currently carries a higher landed cost compared to other petroleum products, making it more expensive for consumers and businesses that rely heavily on it.
He stated that without intervention, fuel prices could remain at levels that would strain the economy and increase pressure on households and key sectors such as transport, manufacturing, and agriculture.
“Diesel, as outlined in the circular, has a higher landed cost. For prices to come down to the levels I am referring to, we must allocate 5 billion Kenyan shillings from the Fuel Stabilization Fund to reduce the cost of diesel by about 24 shillings,” Nyoro said.
He added that the proposed measures are aimed at cushioning the economy from erratic inflationary pressures that often arise from sudden changes in fuel prices.
According to him, stabilising diesel prices would have a ripple effect across multiple sectors, helping to maintain predictable costs for goods and services.
“These measures will help stabilize the economy by reducing erratic inflationary pressures and ensuring stability in the medium and long term,” he said.
Nyoro further warned that failure to implement the proposed intervention could result in sustained high fuel prices, which he said would negatively affect economic performance and burden ordinary citizens.
“Failure to implement them will result in fuel prices that are too high for the economy,” he stated.
The MP’s remarks come amid ongoing public debate over fuel pricing in the country, with many Kenyans expressing concern over rising transport and commodity costs linked to fuel fluctuations.