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Fuel prices rise again in Kenya despite government subsidy

Fuel prices rise again in Kenya despite government subsidy

Kenyans will have to pay more for fuel from midnight, as the Energy and Petroleum Regulatory Authority (EPRA) has announced new prices for the next month. According to EPRA, the price of petrol will increase by Sh5.72 per litre, diesel by Sh4.48 per litre, and kerosene by Sh2.45 per litre. This means that in Nairobi, petrol will cost Sh217.36 per litre, diesel Sh205.48 per litre, and kerosene Sh204.58 per litre.

The new prices will be valid until November 14. This is the second consecutive month that fuel prices have exceeded Sh200 per litre, after last month’s review. Moses Kuria, a former cabinet secretary for trade, had warned that the prices will keep rising until February 2024.

The government says it is using a Petroleum Development Levy (PDL) to cushion consumers from the high costs of fuel. EPRA said that the landed costs of fuel had increased significantly, and the government had decided to stabilize the pump prices for the October – November 2023 cycle. The oil marketing companies (OMCs) will be compensated for the difference between the actual costs and the pump prices from the PDL fund, as per the PDL Order of 2020.

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