President William Ruto convened a critical meeting on Tuesday to address the growing concerns regarding potential fuel price increases, which had sparked alarm following a mention of Ksh300.

National Assembly budget committee chair, Ndindi Nyoro, revealed to Ghetto Radio that President Ruto had summoned the leadership of the Kenya Kwanza party to tackle this looming crisis, which threatened to worsen the economic hardships faced by Kenyans.

Nyoro reassured the public, stating, "The economy is on the right track, and we are doing everything we can to ensure that fuel prices do not reach the predicted levels."

The anxiety about rising fuel prices arose on Monday when Energy Cabinet Secretary Davies Chirchir mentioned before the National Dialogue Committee (NADCO) that the ongoing conflict in Israel and Gaza might lead to an increase in international oil prices. This announcement caused widespread concern, as Chirchir explained, "I recently read an article in the Financial Times suggesting that due to the Hamas-Israeli conflict, international oil prices could reach up to USD150 per barrel. This would translate to our fuel prices surging to Ksh300 per liter."

These comments came amidst contradictory reports from the Central Bank of Kenya (CBK), which indicated a drop in global crude prices, and neighboring Tanzania's reduction of fuel prices.

In defense of Chirchir, Ndindi Nyoro clarified that the Energy Cabinet Secretary was misquoted by the media. Nyoro elaborated that Chirchir intended to convey that fuel prices would rise only if the current international circumstances remained constant. Nyoro also acknowledged the challenging economic situation inherited by the Kenya Kwanza administration, asserting that it would be difficult to lower the prices of all commodities simultaneously.

Nyoro emphasized that, in the short term, President Ruto's administration would focus on reducing the prices of essential goods, such as maize flour (Unga) and fuel.

Ruto and his supporters have been critical of his predecessor, President Uhuru Kenyatta, for what they see as a lack of progress in revitalizing the economy, even one year into Ruto's term. The crisis meeting took place in anticipation of a review by the Energy and Petroleum Regulatory Authority (EPRA) scheduled for November 14.

Currently, fuel prices stand at a historic high of Ksh217.36 for super petrol and Ksh205.47 for diesel.