As EPRA hikes fuel prices, Kenyans brace for high cost of living
Kenyans will have to brace themselves for a possible increase in the price of commodities after the Energy and Petroleum Regulatory Authority (EPRA) increased fuel prices.
In its monthly review for May 2023, Super Petrol rose by Sh3.40 per litre, Diesel by Sh6.40 per litre, and Kerosene by Sh15.19 per litre. Additionally, EPRA announced the removal of the subsidy on Diesel and Kerosene.
As a result, petrol prices in Nairobi surged to Sh182.70, Diesel climbed to Sh168.40, and Kerosene soared to Sh161.13. In Mombasa, Petrol, Diesel, and Kerosene prices were retailing at Sh179.86, Sh165.57, and Sh158.30 respectively.
Motorists in Nakuru faced prices of Sh181.83 for Petrol, Sh167.91 for Diesel, and Sh160.65 for Kerosene.
In Eldoret, Petrol was priced at Sh182.54, Diesel at Sh168.61, and Kerosene at Sh161.35.
Some areas, including Meru, Chuka, Nanyuki, Mtito Andei, Kitui, Marsabit, Laisamis, Sololo, Dadaab, Elwak, Wajir, and Isiolo, witnessed petrol prices ranging from Sh184 to Sh191.
EPRA’s newly announced fuel prices will be applicable from May 14 to June 14. In the previous review, between April 14 and May 14, the prices of super petrol, diesel, and kerosene remained unchanged, thanks to subsidies aimed at easing the financial burden on Kenyans.
The increase in fuel prices comes as Kenya receives petroleum products through a new deal with a Saudi Arabian and Dubai-based company.
The country purchased oil on credit and remitted payments in Kenyan shillings, aiming to alleviate the pressure on the dollar supply. The first fuel consignment under the new agreement, worth Ksh20 billion, arrived in April 2023, with the latest consignment received on May 11, 2023.
According to Kenya Ports Authority, “Two tanker vessels, Nan Lin Wan and Proteus Jessica, docked at the New Kipevu Oil Terminal with 100,000 metric tons of diesel and 85,979 metric tons of petrol respectively.”
As Kenyans contend with the impact of increased fuel prices on their daily lives, the focus now turns to managing the financial implications and seeking alternative solutions to mitigate the rising costs of transportation and essential goods.