No reprieve for Kenyans as fuel prices remain unchanged
Fuel prices will remain high in the country for at least another month, despite the government reintroducing the subsidies that would have seen pump prices cross the Sh200 mark.
The Energy regulator kept the fuel prices unchanged in the latest review cycle will see pump prices of petrol, diesel, and kerosene retailing at Sh194.68, Sh179.67, and Sh169.48 in Nairobi, respectively.
In a statement, the Energy and Petroleum Regulatory Authority (Epra) said that the government reinstated the Petroleum Development Fund will be used to compensate importers of the commodity.
“In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the government has opted to stabilise pump prices for the August-September pricing cycle,” Epra said.
But now a litre of petrol will remain at the current price despite the average landed cost of imported fuel having increased in July by 64 percent for super petrol, 4.29 percent for diesel, and 7.41 percent for kerosene.
Also read: TIFA: Increase in petrol prices the biggest pinch to Kenyans
The move eliminates fears of another hike as Kenyans grapple with the rising cost of other essential goods.
Epra director general Daniel Kiptoo announced in a statement on Monday evening that the unchanged prices will remain in force until September 14, 2023.
Last year, President William Ruto scrapped the subsidies immediately after taking office and ruled out reintroducing them, saying they were counterproductive.
Former president Uhuru Kenyatta introduced the fuel subsidy to cushion Kenyans from the high cost of living.
However, the program has been heavily criticised, particularly by the Ruto brigade, who claim it is riddled with graft.
This means the government will subsidise petrol for Sh7.33, diesel for Sh3.59, and kerosene for Sh5.74 from Tuesday.
Also read: Why petrol prices continue going up despite decrease in average landed cost