Regulator Slashes Fuel Prices of To Cushion Energy Sector Consumers

Committed to the observance of fair competition and protection of interests of both investors and consumers in the energy sector, the Energy and Petroleum Regulatory Authority has today made changes wholesale and retail price of petroleum products Amid COVD-19 pandemic.

Effective 15th April 2020 to 14th May 2020, changes in the maximum allowed petroleum pump prices in Nairobi will be as follows; Super Petrol, Diesel and Kerosene decrease by Ksh 18 per litre, Ksh 4.09 and Ksh 18.18 per litre respectively. Super Petrol will now retail at Kshs.92.87 down from Sh110.87, Diesel will retail at Sh97.56 down from Sh101.65. In Mombasa, motorists will pay Sh90.40 for Super Petrol, Sh95.09 for diesel and Sh74.82 for Kerosene per litre. Motorists in Kisumu will pay Sh93.67 for Super Petrol, Sh98.49 for diesel and Sh78.27 for Kerosene per litre.

These changes were informed by a drop in the average landed cost of imported super petrol, Diesel and Kerosene by 24.61% 9.89% and 37.70% respectively from the United States.

A recent crash in the crude oil prices will affect future price review for diesel, according to the regulator. As at March 2020, the crude oil price in US dollars per barrel had fallen to 35.58, as compared to monthly trends dated back to April 2019. However, the mean exchange rate for Ksh to USD dollars as at March 2020 had spiked to 104.05 compared to 101.12 recorded April 2020.

These fuel pricing regulations, set to cap the prices of wholesale and retail price have come in at a time when Matatu operators have decried high prices of fuel despite cutting down their operations, to meet government measures to prevent the spread of the virus.