Relief to Consumers as Fuel Prices Drop in EPRA Review
Motorists are set for relief after a drop in the cost of fuel was announced on Saturday by the Energy and Petroleum Regulatory Authority (EPRA).
In the mid-month review, the cost of super petrol was from midnight on Saturday expected to reduce by Kes 1.42, that of diesel will drop by Kes 2.21 while that of Kerosene will drop by Kes 2.10 per litre.
Until December 14 which is the next review period, motorists will pay Kes 105.85 for a litre of petrol in Nairobi, Kes 90.70 for diesel and Kes 81.63 for a litre of kerosene.
EPRA Director-General Pavel Oimele in a statement said the changes in this month’s prices are as a consequence of the average landed cost of imported super petrol decreasing by 4.45 per cent from $331.37 per cubic meter in September 2020 to $316.64 per cubic meter in October.
“Diesel decreasing by 7.42 per cent from $311.99 to $288.83 per cubic meter and Kerosene decreasing by 7.42 per cent from $282.09 per cubic meter to $261.17 per cubic meter,” Oimeke said.
The drop in fuel costs is expected to ease rising consumer costs which surged last month owing largely to previous fuel cost increases.
October inflation for instance jumped for the first time since April to 4.84 per cent from a year low of 4.2 per cent in August and September on the back of increased fuel costs.
Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.49 per cent from Kes 108.60 per dollar in September to Kes 109.14 in October.