Kenya’s Energy and Petroleum Regulatory Authority (EPRA) has announced new prices for fuel.
The prices of Super petrol remain unchanged and will retail at Ksh177 ($1.44), diesel at Ksh162 ($1.32) and kerosene at Ksh145.9 ($ 1.18)per litre.
The prices took take effect from midnight of December 15, 2022.
“In the period under review, the maximum allowed petroleum pump prices for Super petrol, diesel, and kerosene remain unchanged,” EPRA announced on Wednesday, December 14.
In addition, EPRA noted that the diesel price had been cross-subsidised with that of Super petrol while a subsidy of Ksh25.07 per litre was maintained for kerosene to cushion consumers from the otherwise high prices.
In Nairobi, Super petrol will retail at Ksh177.30, diesel at Ksh162.00 and kerosene will retail at Ksh145.94, while in Kisumu, Super petrol will retail at Ksh177.50, diesel at Ksh162.70, and kerosene at Ksh146.66.
In Nakuru, motorists will part with Ksh172.62 for Super petrol, Ksh161.83 for diesel and Ksh145.79 for kerosene.
Their counterparts in Eldoret will part with Ksh177.50 for Super petrol, Ksh162.72 for diesel and Ksh146.67 for kerosene.
Motorists in Mombasa will pay Ksh174.98 for Super petrol, Ksh159.76 for diesel and Ksh143.69 for kerosene.
“The government will utilise the Petroleum Development Levy to compensate oil marketing companies for the difference in cost,” EPRA affirmed.
“EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors,” EPRA Director General Daniel Kiptoo Bargoria added.
In the past months, Kenyans lamented over the high cost of fuel prices after the new administration removed the fuel subsidies put in place by retired President Uhuru Kenyatta.
President William Ruto argued that his administration would remove the subsidies that cost taxpayers billions.
“If the subsidy continues to the end of the financial year, it will cost the taxpayer Ksh280 billion, equivalent to the entire national government development budget,” Ruto stated on September 13, 2022.
Following the removal of the subsidies, the Treasury saved an estimated Ksh14.7 billion of taxpayers’ money.
Fuel prices hit an all-time high in September 2022 with Super petrol retailing at Ksh179.30 while diesel at Ksh165 and kerosene at Ksh147.94 a litre.
Some parts of the country, in September 2022, were parting with Ksh250 for a litre of petrol. The high prices were attributed to acute shortages in the country.
Source: https://energynewsafrica.com