The Energy and Petroleum Authority (EPRA) has announced fuel prices that will be in place for the next one month, between December 15 and January 14, 2024.
In a statement on Thursday, EPRA set the price of Super Petrol at Kshs.212.36 in Nairobi, while Diesel and Kerosene will retail at Ksh201.47 and 199.05 respectively.
“The maximum allowed petroleum pump price for Super Petrol, Diesel and Kerosene 𝐝𝐞𝐜𝐫𝐞𝐚𝐬𝐞 by 𝐊𝐬𝐡𝐬.𝟓.𝟎𝟎, 𝟐.𝟎𝟎 and 𝟒.𝟎𝟏 per liter respectively,” the statement read in part.
The prices announced in the new review represented a drop coming on the back of concerns raised due to high cost of the vital commodity.
In the detailed statement shared during the announcement, EPRA noted that the landing cost for petroleum products decreased in November and hence the reduction.
As per the statement, the government also decided to cross-subsidize the price of Diesel with that of Super Petrol in order to further cushion the economy.
As a result, the state will disburse funds to oil companies in a bid to compensate them.
In the previous review of prices in the period between November 15 and December 14, EPRA left the price of petrol unchanged while the prices of Diesel and Kerosene dropped by Ksh2 each.
Global fuel prices have significantly dropped since October with international benchmark Brent Crude dropping to $70 per barrel.
Pressure on EPRA
Consequently, some Kenyans led by opposition leader Raila Odinga piled pressure on the government to reduce fuel prices to match the global fall in prices.
Speaking during a function in Kajiado County on Saturday, December 9, Odinga demanded a reduction of prices by a significant Ksh50.
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In his speech, the former Prime Minister affirmed that he was aware of the changes in global fuel prices and, as such, he did not expect the government to reduce prices by a mere Ksh5.
The opposition chief had earlier taken a swipe at the government-to-government oil importation deal put in place by the Kenya Kwanza government, saying that it was a catalyst in the increment of fuel prices.
Also Read: EPRA Announces New Fuel Prices, Diesel Drops by Ksh.2
On his part, President William Ruto in November gave an assurance that fuel prices would fall in the month of December.
“You have seen that this month the prices have started to decrease and next month, they will fall even further,” Ruto aid while addressing a function in Kirinyaga County.
