A fuel pump. Kenyans will for the next one month fork out more money for fuel following latest price review by the regulator. www.businesstoday.co.ke
A fuel pump. Kenyans are set to pay more for fuel in latest price review [Photo/BT]

The Energy & Petroleum Regulatory Authority (EPRA) has announced a reduction in the prices of fuel that will see the prices of fuel drop by the largest margins ever announced in Nairobi by the Pavel Oimeke led body.

In its monthly review, EPRA has revised the prices of petrol downwards by Ksh18 per litre, diesel by Ksh4.09 per litre and kerosene by Ksh18.19 per litre respectively.

EPRA’s changes will be effective starting midnight Tuesday April 14. The latest revision will run for the next one month until May 14 when another review will be conducted.

“The changes in this month’s prices are as a consequence of the average landed cost of imported super petrol decreasing by 34.61 per cent from $472.59 per cubic metre in February to $309.03 per cubic metre in March; diesel decreasing by 9.89 per cent from $480.21 per cubic metre to $432.70 per cubic metre,” EPRA said in its statement.

The regulator further batted off any suggestion that Kenyans will get to enjoy much-reduced fuel prices due to trade wars between oil selling nations.

Other countries have been passing on the benefit of cheaper oil to their citizens as the fuel w*r between Russia and Saudi Arabia escalated.

“It is worth noting that the diesel cargoes used in the computation of this month’s prices were procured in February 2020 when oil prices were still relatively high. Accordingly, the effect of the recent c***h in crude oil prices will be reflected in retail prices in subsequent reviews,” said the regulator.

By the same token, the regulator says that during the procurement period, the Kenyan shilling depreciated against the dollar by 2.75% from Ksh101.27 in February to Ksh104.05 in March 2020.

To that effect, in Nairobi, super petrol will now retail at Ksh92.87, diesel Ksh97.56 and kerosene at Ksh77.28.

In Mombasa, petrol will retail at Ksh90.40, diesel at Ksh95.09 and kerosene at Ksh74.82. In Nakuru, super petrol will retail at Ksh92.71, diesel at Ksh97.53 and kerosene at Ksh77.32.

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