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The President made the remarks while travelling to Texas for the Republican Party's first-ever midterm election convention, with control of Congress at stake in the November 3 polls.
The Monetary Policy Committee said the global economic outlook has weakened, with growth now expected to come in at 3.0 per cent in 2026 compared to 3.5 per cent recorded in 2025.
In a statement released on Wednesday, the motorists' lobby described EPRA's decision as "an economic betrayal of Kenyans", arguing that it was the second consecutive monthly review in which motorists had been denied the full benefit of favourable international oil prices.
Mbadi pointed to ongoing interventions aimed at shielding households from fuel-related shocks, including stabilisation measures introduced in April 2026.
Ecobank’s Mohamed Souleymane says the US Federal Reserve’s decision to hold rates at 3.5%–3.75% offers short-term stability for Kenya. He warns that Middle East tensions and oil volatility could still pressure inflation, currencies and fuel costs.
Brent crude rose by 5.4% to $95.27 (£70.62) a barrel, while the US benchmark West Texas Intermediate climbed 5.9% to $88.79, reflecting sharp investor reactions to fresh disruptions in the Middle East.
Iran and the United States say negotiations are progressing, but disputes over nuclear limits and control of the Strait of Hormuz remain. Restrictions have reimposed amid renewed maritime tensions as a ceasefire deadline nears.
Tana River Senator Danson Mungatana says Kenya lacks strategic oil reserves, relying on about 20 days of commercial fuel stocks. He plans a Senate motion to fund 90-day storage infrastructure.
Kenya’s inflation remained under control in March, coming in at 4.4 percent. This is below the midpoint of the official target band of 5±2.5 percent. The MPC linked the lower inflation to reduced prices of key processed foods, including sugar and maize flour, which helped ease pressure on households.
U.S. President Donald Trump confirmed the temporary suspension of attacks on Iran, saying it would last two weeks to allow negotiations to be finalized, provided Tehran guarantees safe passage through the Strait of Hormuz, a key route for global oil shipments.
The sharp market reaction followed a strongly worded social media post by Trump on Sunday, in which he warned that the United States would target critical Iranian infrastructure if ships were not allowed safe passage through the vital shipping lane by Tuesday.
Speaking at a youth rally, Sonko said the cost of oil had surged to levels far beyond government projections, placing significant strain on public finances.