EconomyFuel Prices to Remain Unchanged as EPRA Retains Prices in Latest Review

The Energy and Petroleum regulator(EPRA) has held fuel prices constant in its latest review, the second time in a row since its last price increase set in July 2021. The prices are set to prevail between August 15th and September 15th 2021.

Daniel Kiptoo the Energy and Petroleum Regulatory Authority (EPRA) Director-General in a statement said the prices will remain constant, despite the rise in the landing costs.

A litre of Petrol in Nairobi will therefore retail at Kes 127.14, while Diesel will cost Kes 107.66 per litre.

Kerosene which is mostly used by low-income households for lighting and cooking will retail at Kes 97.85 per litre.

In Mombasa, super petrol and Diesel will retail at Kes 124.72 and Kes 105.27 while Kerosene will cost Kes 95.46. In Nakuru, the pump prices of super petrol, diesel and kerosene have been set at Kes 126.75, Kes 107.55 and Kes 97.76 per litre respectively. Consequently, motorists in Eldoret, pay Kes 127.67 for diesel, Kes 108.46 for diesel and Kes 98.68 for Kerosene.

EPRA further indicated that the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 0.41% from Kes 107.82 in June to Kes 108.26 per US$ in July 2021.

While appearing before the Senate Committee of Energy on Friday, July 30, Mining and Petroleum Chief Administrative Secretary (CAS) John Musonik explained that the state would maintain the monthly price of fuel largely due to the set up a Petroleum Development Fund (PDF).

He further noted that the development fund was aimed at cushioning Kenyans when the price per barrel crosses the $50 (Kes5,486) mark.

“From April, we have been using the fund. For now, we are going to stabilise the prices as we look at all the other components in the pricing,” John Musonik Mining and Petroleum Chief Administrative Secretary (CAS)

Currently, the development fund has far raised Kes 15 billion and saved Kenyans as much as Kes 14.59 on diesel and Kes 19.54 on Kerosene.

Read also; Relief as EPRA Maintains Fuel Prices in Latest Review.  

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