It is a relief for Kenynas as fuel prices remained constant in the latest monthly review by the Energy and Petroleum Regulatory Authority (EPRA).
EPRA Director General Daniel Bargoria, in a statement on Monday, stated that the retail prices of petroleum products will be in force from August 15 to September 14.
"In the period under review the maximum allowed petroleum pump prices for Super Petrol, Diesel and Kerosene remain unchanged," EPRA said.
Further, the Director General stated that there is a need to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, as the landed costs for Super Petrol increased by 6.84%, Diesel by 4.29% and Kerosene by 7.41%.
"The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers," said Bargoria.
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Super petrol will still retail at Kes .194 per litre, Diesel at Kes 179 and Kerosene at Kes .169 inclusive of the 16% VAT increment as provided in the Finance Act 2023, up from 8 per cent.
However, President William Ruto, in February 2023, had vowed that his administration would not reintroduce subsidies on petroleum products, arguing that the subsidies were economically untenable and had been abused by his predecessor Uhuru Kenyatta to benefit a few individuals.
We will not go back to subsidies that benefit brokers, cartels and people who are politically correct. We are going to promote instead production," he said at a past public address.
Upon his appointment to office, Ruto scrapped the subsidies, causing a sharp rise in the commodity.
