Relief As EPRA Reviews Fuel Prices Downwards

 Introduction

Fuel prices are more than numbers on a price list for most Kenyan households and businesses. They directly affect every aspect of their lives: transport costs, food, and electricity. Any change in the pump prices is quickly felt across the economy. In the latest monthly review, motorists have had a sigh of relief after a downward review by EPRA, offering a brief pause from the sustained pressure of high energy costs. The relief came at a time when Kenyans were celebrating Valentine's, a day when people travel to celebrate their loved ones.

Relief at the Pump as Fuel Prices Drop

Motorists across Kenya will pay less for fuel following a downward review by the Energy and Petroleum Regulatory Authority (EPRA). The energy regulatory body announced the change in prices on Saturday, saying that it will take effect from Sunday, the 15th, to March 14th. The new rates affect petrol, kerosene, and diesel, whose prices dropped by Kshs 4.25, Kshs 1, and Kshs 3.93 in Nairobi. Petrol will now retail at Kshs 178.28, kerosene at Kshs 152.78, and diesel will retail at Kshs 166.54 per liter. According to EPRA, the price reduction is attributed to a decline in global fuel import costs. It further noted that the announced prices already factored in the 16% VAT tax, the revised excise duty, and any other applicable legal notices.

Data from EPRA shows that between December and January, the landing cost of super petrol dropped by 2.7%, diesel by 6.4%, and kerosene by 1.4%. This created room for a downward adjustment in fuel prices. 

In Mombasa, super petrol will retail at Kshs 175, diesel at 163.26, and kerosene at 149.49 per liter. Nakuru will see petrol, diesel, and kerosene retail at Kshs 177.34, Kshs 165.95, and Kshs 152.21 per liter, respectively, while in Eldoret, drivers will part with Kshs 178.15, Kshs 166.77, and Kshs 153.03 per liter, respectively. 

The latest prices are a continuation of a gradual downward trend seen in previous months. Last month, EPRA reduced petrol prices by Kshs 2, whereas diesel and kerosene prices dropped by Kshs 1. 

Government leaders welcomed the move by EPRA, noting that fuel prices are expected to ease pressure on households, lower transport costs and food production, and offer modest support to economic activity. The deputy president, Professor Kithure Kindiki, said that the reduction signifies the success of the Kenya Kwanza government in stabilizing the economy.