Fuel prices at the pump will remain the same for the next one month starting midnight on Monday August 15, 2023.
This was announced by the Energy and Petroleum Regulatory Authority (EPRA) in a statement released on Monday night.
“In the period under review, the maximum allowable petroleum pump prices for super, diesel and kerosene remain unchanged,” said EPRA Director General Daniel Kiptoo.
He says the government retained the prices despite the average landed cost of imported fuel rising by 64 per cent for super petrol, 4.29 per cent for diesel and 7.41 per cent for kerosene in July.
In essence, this means the President William Ruto’s Kenya Kwanza administration has restored fuel subsidies that they had criticized former President Uhuru Kenyatta for.
“In order to cushion consumers from the spike in pump prices as a consequence of increased landed costs, the government has opted to stabilise pump prices for the August-September 2023 pricing circle,” the EPRA boss stated.
Due to the announcement by the regulator, super petrol will continue retailing at Sh194.68, diesel at Sh179.67 and kerosene at Sh169.48 at the pump in Nairobi.
In Mombasa, a litre of super petrol will continue selling at Sh191.62, diesel at Sh176.63 and kerosene at Sh166.43 in the prices that remain in force until September 14, 2023 midnight.
Due to the stabilization bid by EPRA, oil marketers get compensated for the disparity from the Petroleum Development Fund (PDF) at the rate of Sh7.33 per litre of super petrol sold, Sh3.59 per litre of diesel sold and Sh5.74 per litre of kerosene sold.
Minus the Government subsidy, Kenyan consumers would have purchased a litre of super petrol at Sh202.01, Sh183.26 for a litre of diesel and Sh175.22 per litre of kerosene in Nairobi.