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Sigh of relief as fuel prices unchanged in latest Epra review

BUSINESS
By Samuel Njogu | November 14th 2021
By Samuel Njogu | November 14th 2021
BUSINESS

A car fuel at Rubis Petrol Station along Gitanga Road in Lavington, Nairobi on September 18th 2021. [Boniface Okendo, Standard]

Fuel prices will remain unchanged for the next one month as the government subsidises consumers following a spike in the cost of crude oil in in the international markets.

Had the state failed to put in place subsidy, the retail price of the three petroleum products whose prices are regulated would have increased to a historic high.

The Energy and Petroleum Regulatory Authority yesterday said motorists who use super petrol would have been paying Sh143.48 per litre in Nairobi over the November-December pricing cycle.

Diesel, used by industries and the transport sector, would have retailed at Sh126.28 per litre in the capital while kerosene – a fuel largely used by the poor to light and cook, would have reached Sh115.11 per litre.

Following the government tapping into the Petroleum Development Levy Fund, the three products will continue retailing at the same levels as was the case over the October-November pricing cycle.

Super petrol will retail Sh129.72 per litre, which means motorists will be subsidized to the tune of Sh13.76. Diesel will continue selling at Sh110.60, with users being spared Sh15.68 per litre while kerosene will retail at Sh103.54 per litre, with households that rely on the fuel getting a saving of Sh11.57 per litre.

“In the period under review, the pump prices of super petrol, diesel and kerosene remain unchanged,” Epra said in a statement.

“The average landed cost of imported super petrol increase 8.66 per cent… diesel increased by 11.17 per cent… while kerosene increased by 9.27 per cent.”

“Despite the increase in the landed costs, the applicable pump prices for this cycle have been maintained as the ones for the previous cycle. The government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices.”

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