Fuel Prices Unchanged Again

The government has announced that fuel prices will remain unchanged from Monday, August 15 to Wednesday, September 14.

The Energy and Petroleum Regulatory Authority (EPRA) announced that the price of Super Petrol will remain at Ksh159.12 per litre while Diesel will remain at Ksh140 per litre. Kerosene will remain at Ksh127.94 per litre.

"In accordance with Section 101(y) of the Petroleum Act 2019, Legal Notice No.196 of 2010 and Legal Notice No. 26 of 2012, the Energy & Petroleum Regulatory Authority has calculated the maximum retail prices of petroleum products for the period 15th August to 14th September 2022," EPRA stated.

Fuel prices update for between August 15, 2022, and September 14, 2022. /VIRALTEAKE

This comes after a directive by President Uhuru Kenyatta, in a statement dated Thursday, July 14 and signed by State house spokesperson, Kanze Dena, revealed that fuel prices would be maintained.

“It is notified that His Excellency the President has today authorized an additional fuel subsidy of Ksh16.675 billion, so as to cushion Kenyans from a further increase in fuel prices.

“With today’s presidential action, diesel will continue to retail at Ksh140.00, petrol at Ksh159.12 and Kerosene at Ksh127.94. Without such State interventions, the pump prices would have been Ksh193.64 for diesel, Ksh209.95 for petrol and Ksh181.13 for Kerosene," read the state House statement in part.

The President added that due to the caring nature of the Jubilee administration, it was doing all it can to protect Kenyans from the rampantly high cost of living.

"As a caring government, we will continue to roll out similar actions so as to provide further direct relief to all Kenyan families and establish the necessary safeguards for protecting Kenyan consumers from further increases in the cost of living," he stated.

The review came as crude oil prices had begun to go down across the world but industry players warned motorists that they would have to continue buying expensive fuel till mid-August before the drop is applied.

According to the latest Central Bank of Kenya (CBK) weekly bulletin, international oil prices declined during the week ending July 7, after the OPEC+ agreed to increase monthly overall production.

“Murban oil prices dropped to USD 105.4 per barrel on July 7, compared to USD 118.74 per barrel on June 30,” CBK noted.

In March, crude oil hit a 13-year high of USD130 in March amid increased demand which did not match supply.

The increase in global oil prices has seen Kenya's fuel prices steadily increase since the beginning of 2022 and were set to go up further with the government's initial plan of withdrawing a fuel subsidy.