The Kenyan government is cushioning fuel consumers as a result of the rising crude oil prices on the world market which is causing regular hike in fuel prices at the pump resulting in more sufferings for the masses.
The government, through the National Treasury, has released Sh24 billion (216,313,653.60 dollars) from the Petroleum Development Fund to bring down fuel prices in the latest review.
“The government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices,” EPRA Director-General, Kiptoo Bargoria said in a statement.
Majority of low income households who heavily rely on kerosene as a source of energy were the main beneficiaries after the Energy and Regulatory Authority (EPRA) cut the price per litre by Sh7.28.
The regulator also slashed Sh5 off a litre of petrol and diesel despite increases in global prices.
According to EPRA, the landed cost for petrol increased by 1.71 per cent from $548.36 per cubic metre in August to $557.74 in September.
Diesel increased by 3.10 per cent from $489.51 per cubic metre to $508.68.
The cost of importing kerosene, however, dropped by 4.1 per cent to $477.75 from $498.19 per cubic metre.
The new prices that took effect, Thursday midnight, will see petrol users in Nairobi pay Sh129.72 per litre, Sh110.60 for diesel and Sh103.54 for kerosene.
Those in Mombasa will pay Sh127.46 for a litre of super petrol, Sh108.36 for the same quantity of diesel and Sh101.29 for kerosene.
This is a reprieve to consumers who have in the past 30 days paid up to Sh135 for a litre of petrol, generally pushing up the cost of living.
Source: https://energynewsafrica.com
