Kenyans find themselves in a state of anticipation today, eagerly awaiting the crucial decision of the Energy and Petroleum Regulatory Authority (EPRA) regarding fuel prices.
This monthly ritual holds immense significance for the nation’s cost of living.
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In the recent October 14 review, EPRA dropped a bombshell, announcing increases in fuel prices. Petrol surged by Ksh 5.72, diesel climbed by Ksh 4.48, and kerosene experienced a hike of Ksh 2.45. Consequently, petrol hit Ksh 217.36 per litre, diesel reached Ksh 205.47, and kerosene settled at Ksh 204.46 per litre in Nairobi.
In accordance with Section 101(y) of the Petroleum Act 2019 and Legal Notice No.192 of 2022, @EPRA_Ke has calculated the maximum retail prices of petroleum products, which will be in force from 15th October 2023 to 14th November 2023.^DC pic.twitter.com/XdVWrg02j7
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) October 14, 2023
The surge was pinned on a rise in the average landing cost of imported fuel, with super petrol increasing by 3.93%, diesel by 7.07%, and kerosene by 5.01%. The escalating fuel prices have triggered widespread concern, fueling discussions and speculations leading up to the much-anticipated November 14 review.
Taking into account the weighted average cost of imported refined petroleum products, the changes in the maximum allowed petroleum pump prices in Nairobi are as follows: Super Petrol, Diesel & Kerosene increases by Kshs.5.72, Kshs.4.48 & Kshs.2.45 per litre respectively.^DC pic.twitter.com/gc8jGkHfKh
— Energy and Petroleum Regulatory Authority (@EPRA_Ke) October 14, 2023
Molo MP Kuria Kimani, chairperson of the National Assembly Finance and Planning Committee, remains cautiously optimistic about the outcome.
In an exclusive interview this morning, Kimani expressed his hope, saying, “EPRA is undoubtedly aware of the burden that high fuel prices place on Kenyans. I am hopeful that we will witness a different decision this time, one that eases the financial strain on our citizens.”
However, Energy CS Davis Chirchir has cast a shadow of doubt, citing concerns that fuel prices could skyrocket to Ksh 300 per litre due to the ongoing Israel-Palestine conflict.
Kimani dismissed these fears, saying, “While global events can influence fuel prices, I believe EPRA will consider the domestic impact and make a decision that balances the scales.”
Injecting a dose of intrigue into the unfolding narrative, Narok Senator Ledama Ole Kina took to social media, sharing captivating information about fuel pricing.
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In a tweet, he pointedly remarked, “Gulf Energy and Galana Oil Kenya source fuel from the same place but have different procurement methods. Something doesn’t add up. Who is fooling who?”
So dear Kenyans , as we await for the fuel increase by @EPRA_Ke tomorrow , it’s important for me to share some important information regarding fuel pricing. 1:- two companies that are part of the G2G contract source fuel from the same place but one directly while the other one…
— Sen. Ledama Olekina (@ledamalekina) November 13, 2023
As the nation braces for EPRA’s decision, the fate of fuel prices hangs in the balance, leaving Kenyans on edge and eagerly anticipating the announcement that will shape the cost of living for the month ahead.
