The Energy and Petroleum Regulatory Authority (EPRA) has announced a significant drop in the prices of super petrol, kerosene, and diesel in Kenya, effective from October 15, 2024.
Highlights
- Super Petrol: Reduced by Ksh8.18 from Ksh188.84 to Ksh180.66
- Diesel: Reduced by Ksh3.54 from Ksh171.6 to Ksh168.06
- Kerosene: Reduced by Ksh7.03 from Ksh158.32 to Ksh151.39
Factors contributing to price drop:
Lower Landed Cost: The landed cost of imported super petrol decreased by 8.59% in September compared to August, while diesel’s landed cost fell by 5.52%.
Strengthening of the Kenyan Shilling: The Kenyan shilling has maintained its value against the US dollar, contributing to lower fuel prices.
Global Oil Demand: A decline in global oil demand has also played a role in reducing fuel prices.
Previous price trends
In the previous review (September), fuel prices remained unchanged despite a strengthening shilling and lower global oil prices.
Last week, there was a global increase in oil prices due to increased demand and tensions in the Middle East, raising concerns about potential price hikes in Kenya.
Regional price variations
Prices in Mombasa are slightly lower than in Nairobi, while prices in Kisumu are slightly higher than in Nairobi.
EPRA’s announcement has brought relief to consumers who have been facing rising fuel costs in recent months. The significant price reductions are expected to have a positive impact on the overall economy.
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