The Energy and Petroleum Regulatory Authority (EPRA) has announced fuel prices to be used in the period between October 15 and November 14.
In a statement on Saturday, EPRA Director General Daniel Kiptoo announced that the state will reinstate the stabilization program through the petroleum development levy to cushion Kenyans from further hikes.
Consequently, Super Petrol will retail at Ksh217.36 per liter in Nairobi, Diesel at Ksh205.47, and Kerosene at Ksh 205.06. The price of Super Petrol will be increasing by Ksh5.72 per liter, diesel by Ksh4.48 and kerosene by Ksh2.45.
According to EPRA, the subsidy will save Kenyans from paying an extra Ksh3.07 for Super Petro, Ksh11.64 for Diesel and Ksh 9.60 for Kerosene.
“Without stabilization as we have mentioned this would have seen significant increase in pump prices but because of the intervention from the government we have been able to share the pain as the regulator,” Kiptoo stated.
In Mombasa, motorists will pay a maximum of Ksh241.30 for one liter of Super Petrol, Ksh202.41 for Diesel, and Ksh210.99.
Unlike most announcements of the monthly review Energy Cabinet Secretary Davis Chirchir was present in what he said was a statement to the public that the government was concerned about the rising prices.
In his statement, Chirchir revealed that the decision to reinstate the stabilization was adopted on Friday, October 13, during a cabinet sitting at State House.
“Yesterday we had a Cabinet meeting where we decided to come in and cushion Kenyans to a good extent,” Chirchior stated.
Previous pump prices
In the previous review released in September, EPRA set fuel prices at a record high with the price of Super Petrol surpassing the Ksh 200 mark to retail at a minimum of Ksh 211 per liter in Nairobi.
Also Read: EPRA Entices Kenyans with Incentives to Ditch Petrol, Diesel Cars
Likewise, the price of one liter of Diesel rose by Ksh 21.32 to retail at Ksh200.99 while that of Kerosene rose by Ksh 33.13 to retail at Ksh 202.61 in Nairobi.
Despite the pressure surrounding the high cost of basic commodities in Kenya, EPRA maintained that the review was affected by several external factors including the rising cost of oil in the global market.
For instance, the regulatory body noted that the landing cost for Diesel had increased by 12.52% while that of Kerosene rose by Ksh 19.79% in the review period.
Also Read: EPRA Increases Fuel Prices; Petrol, Diesel, Cross Ksh200 Mark
Further, the state has repeatedly cited external shocks including the Russia-Ukraine war among factors pushing fuel prices to a record high.
Earlier in the year, Russia led other members of the Organization of Petroleum Exporting Countries in implementing fuel production and exports to the global market.
Consequently, the move has been listed as one of the factors of hiked fuel prices.
In the September review, EPRA scrapped the stabilization levy included in the month of October which critics from some quarters argued would have helped to cushion Kenyans from the record high fuel prices.
