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The Energy and Petroleum Regulatory Authority (EPRA) has recently made adjustments to fuel prices in its latest review, with notable changes in diesel and kerosene while keeping petrol rates unchanged for the period November 15 to December 14, 2023.
This decision comes on the heels of a previous increase in petrol prices last month.
Why petrol prices are unchanged for November 2023
EPRA revealed in its latest statement on Tuesday that petrol prices would remain constant for the stated period.
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Despite a previous increase of Sh5.72 on October 14, the government's decision to stabilise pump prices has kept the rates from further escalation.
Without this intervention, a litre of petrol could have reached Sh229.37, factoring in an additional margin of Sh12.01 through the Petroleum Development Levy (PDL).
“In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the Government has opted to stabilize pump prices for the November December 2023 pricing cycle.
“The National Treasury has identified resources within the current resource envelope to compensate Oil marketing Companies,” EPRA announced on its X platform.
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Diesel and kerosene price adjustments
Contrary to petrol, diesel and kerosene prices have experienced changes. Diesel will retail at Sh203.47, while kerosene will cost Sh203.06 at the pump.
The downward adjustments reflect a decrease of Sh2.00 per litre for both diesel and kerosene.
Regional fuel prices in Kenya
Motorists across different regions in Kenya will experience varying fuel prices. In Nairobi, for instance, petrol, diesel, and kerosene will be sold at Sh217.36, Sh203.47, and Sh203.06, respectively.
Similar adjustments will be observed in Mombasa, Nakuru, and Eldoret.
- Mombasa: Petrol - Sh214.30, Diesel - Sh200.41, Kerosene - Sh199.99
- Nakuru: Petrol - Sh216.35, Diesel - Sh202.88, Kerosene - Sh202.46
- Eldoret: Petrol - Sh217.12, Diesel - Sh203.65, Kerosene - Sh203.22
Economic impact of new fuel prices in Kenya
This latest fuel price review occurs amid a backdrop of Kenyans urging the administration, led by President Ruto, to address the escalating cost of living.
Economic challenges, including layoffs, have heightened concerns, pushing millions into economic despair.