Kenya’s Energy and Petroleum Regulatory Authority (EPRA) has marginally reduced fuel prices at the pump.
The price of petrol has been reduced by KSh 0.66 per litre and diesel by KSh 1.12 per litre for the fuel pricing cycle from June 15 to July 14.
However, households will pay more for kerosene after EPRA increased the pump price of the product by KSh 0.35 per litre.
The price cut means that a litre of petrol will sell for KSh 182.04 in Nairobi, down from KSh 182.7, while diesel will sell for KSh 167.28, down from KSh 168.4.
However, a litre of kerosene will now cost KSh 161.48, up from KSh 161.13.
“Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowable pump prices of petroleum products in Nairobi are as follows: premium and diesel will decrease by KSh0.66 and KSh1.12 per litre respectively while kerosene will increase by KSh0.35 per litre,” said Daniel Kiptoo, Epra director general.
Global Oil Market
The price cut follows a 4.57 per cent drop in the free-on-board price of Murban crude oil from $83.36 (KSh11,645) per barrel to $79.55 (KSh11,113) in May.
In May 2023, the average landed cost of imported super petrol decreased by 1.09% to $716.15 (Ksh100,047) per cubic metre from $724.01 (Ksh101,144) per cubic metre in April 2023.
In the period, diesel increased by 0.84% to $693.86 (Ksh96,812) per cubic metre from $688.07 (Ksh96,113) per cubic metre in the same period.
On the other hand, the landed cost of imported kerosene decreased by 0.83% to $693.71 (Ksh96,911) per cubic metre from $699.54 (Ksh97,725) per cubic metre.
The international crude oil prices have declined by 24% in the last 12 months to a low of $79.55 (Ksh11,113) per barrel in May 2023 from a high of $104 (Ksh14,528) per barrel in June 2022.
