NAIROBI, KENYA: The Energy and Petroleum Regulatory Authority has significantly lowered fuel prices relieving the financial burden from many Kenyans feeling the financial impact of COVID-19
In its monthly fuel review, the regulator saved motorists Sh18 on super petrol budget per litre. Kerosene, which is used by many households, was reduced by Sh18.8 per litre while Diesel was reduced by Sh4.09 per litre.
The changes in this month’s prices are because of the average landed cost of imported Super Petrol decreasing by 34.61 per cent from USD472.59 per cubic metre in February to USD 309.03 per cubic metre in March. Diesel decreasing by 9.89 per cent from USD 480.21 per cubic metre to USD 432.70 per cubic metre and Kerosene decreasing by 37.70 per cent from USD 421.24 per cubic metre to USD 262.44 per cubic metre.
“It is worth noting that the Diesel cargoes used in the computation of this month’s prices were procured in February when the crude oil price was relatively high. Accordingly, the effect of the recent crash in crude oil prices will be reflected in the retail price of diesel in subsequent reviews,” the regulator said in a press release.
It now means that consumers in Mombasa will pay Sh90.40 for a litre of petrol and Sh95.09 for diesel while Kerosene will retail at Sh74.82.
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In Nairobi, petrol, diesel and kerosene will start retailing at Sh92.87, Sh97.56 and Sh77.28 per litre respectively.
The news is likely to boost morale in the transport industry following new government rules. To avoid spread of coronavirus busses, matatus, boda boda and tuk tuk operators have been forced to reduce the number of passengers they carry at a go posing a challenge to the sector earnings.
Health CS Mutahi Kagwe last month ordered 14-seater matatus to carry a maximum of eight passengers to curb the spread of coronavirus disease that has claimed thousands of lives globally.
Twenty-five seater buses will carry 15 passengers as the country tries to arrest the infection cases.
Vehicles that carry more than 30 should carry a 60 per cent less.