Fuel prices to remain unchanged over Christmas into the New Year
Fuel prices will remain unchanged for the next one month, the Energy and Petrol Price Regulatory Authority (EPRA) has announced in its latest review. The prices are effective from Wednesday until January 14, 2022.
As a result, petrol will continue retailing at Sh177.30 per liter in Nairobi and its environs, diesel will retail at Sh162 per liter while kerosene will retail at Sh145.94.
“In the period under review, the maximum allowed petroleum pump prices for super petrol, diesel and kerosene remain unchanged,” EPRA said in a press release.
According to EPRA, the prices are inclusive of the 8 per cent VAT in line with the provisions of the Finance Act 2018, the Tax Laws (Amendment) Act 2020 and the revised rates for excise duty adjusted for inflation as per Legal Notice No. 194 of 2020.
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The unchanged prices offer hope for motorists and users of public transport during the festive season with many Kenyans already planning to travel upcountry to spend time with their loved ones.
In November, the government reduced the prices of petrol, diesel and kerosene by Sh1.
Fuel prices are normally determined by the price of crude oil, importation cost and the strength of the Kenya Shillings versus the dollar.
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After being sworn-in President William Ruto scrapped the fuel subsidy programme, citing its unsustainability.
The Head of State noted that the previous government had spent Sh144 billion in subsidies alone to the expense of other sectors.
He said the interventions in place did not bear any fruit. On fuel subsidy alone, the taxpayers have spent a total of Sh144 billion, a whooping Sh60 billion in the last four months.
Kenya’s fuel stabilization fund became operational in April 2021. The policy’s intention was to stabilize consumer prices against unpredictable swings in global oil markets and prices, shielding consumers from high prices.
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