The Governor of the Central Bank of Kenya Dr. Patrick Njoroge on Monday 19 September hinted that the fuel prices are expected to drop soon despite the removal of fuel subsidy by the government.
Dr. Njoroge said these while speaking during the induction of the Members of Parliament, he stated that the international cost of fuel had hit a record high but has started dropping.
The governor attributed the drop in the fuel cost at the international level as a result of relative normalcy in the countries that produce oil.
He clarified that the removal of subsidies was because the subsidies were detrimental to the economy and may have also affected the economy.