The Energy and Petroleum Regulatory Authority (EPRA) has kept fuel prices unchanged for the next month. This announcement comes as welcome news to many Kenyans.
The prices will remain steady from November 15 to December 14, 2024. Super Petrol continues to retail at KSh 180.66 per litre in Nairobi.
Diesel and Kerosene prices also stay constant. Diesel will sell at KSh 168.06 per litre. Meanwhile, Kerosene maintains its price at KSh 151.39 per litre.
This decision follows last month’s significant price reduction. In October, EPRA had lowered fuel prices considerably. Super Petrol had decreased by KSh 8.18 per litre.
The stability in prices comes despite slight changes in import costs. The landed cost of Super Petrol saw a minor increase. It rose by 0.54% from US$637.70 to US$641.14 per cubic metre.
However, Diesel’s landed cost showed a different trend. It decreased by 4.34% during the same period. Kerosene, on the other hand, experienced a 3.97% increase.
These prices include the 16% Value Added Tax (VAT). The tax implementation aligns with the Finance Act 2023. It also follows other relevant tax regulations.
Regional price variations continue across different parts of Kenya. Mombasa residents will pay slightly less for their fuel. Super Petrol costs KSh 177.42 in the coastal city.
Diesel prices in Mombasa stand at KSh 164.82 per litre. Kerosene users will pay KSh 148.15 per litre. These lower prices reflect reduced transport costs.
In contrast, Eldoret shows slightly higher prices. Super Petrol costs KSh 180.68 per litre in the town. Diesel sells at KSh 168.45 per litre.
Kerosene users in Eldoret will pay KSh 151.82 per litre. These price differences stem from transportation costs. Local market conditions also affect regional prices.
The current price stability marks a positive trend. It follows October’s reduction, which brought prices to their lowest in two years. This drop resulted from improved import costs.
Favorable exchange rates also contributed to the previous month’s decrease. Diesel prices had dropped by KSh 3.54 per litre. Kerosene saw a reduction of KSh 6.93 per litre.
The stable fuel prices are expected to benefit various sectors. The transport industry stands to gain significantly. This sector heavily depends on fuel for daily operations.
Agriculture will also feel positive effects. Many farmers rely on diesel for their machinery. Stable prices help them maintain consistent operational costs.
The decision may help control inflation rates. Fuel prices often influence the cost of goods and services. Stable fuel costs can help keep other prices steady.
Business owners can now plan better. The price stability allows for more accurate budget forecasting. This helps in making informed business decisions.
Public transport operators can maintain current fares. This benefits commuters who rely on public transportation. It helps preserve their purchasing power.
The manufacturing sector also stands to benefit. Many industries use fuel in their production processes. Stable prices help maintain production costs.
EPRA’s decision reflects current market conditions. It considers both local and international factors. These include global oil prices and exchange rates.
The authority continues to monitor market trends. This helps in making informed decisions about future price reviews. It ensures fair pricing for all stakeholders.
Consumers can expect these prices to hold until mid-December. The next review will determine prices for the Christmas season. This could affect holiday travel costs.
The stability provides relief to many Kenyans. It comes at a time when many are planning year-end activities. This helps in better financial planning.
