The Energy and Petroleum Regulatory Authority (EPRA) has announced that fuel prices will remain unchanged from July 15 to August 14, 2022.
As a result, diesel will continue to retail at Ksh140 per litre, petrol at Ksh159.12 and Kerosine at Ksh127.94.
This follows an earlier announcement by the government of a Ksh16.7 billion fuel subsidy to prevent fuel prices from hiking in July.
In a statement on Thursday, July 14, 2022, Statehouse Spokesperson Kanze Dena said that the fuel subsidy will ensure that the prices do not hike, consequently hiking the cost of living.
additional fuel subsidy of Ksh16.675 billion, so as to cushion Kenyans from a further increase in fuel prices. With today’s presidential action, diesel will continue to retail at Ksh140.00, petrol at Ksh159.12 and Kerosine at Ksh127.94,” Ms Dena said.
Without the intervention, it was expected that the pump prices would have hit Ksh193.64 for diesel, Ksh209.95 for petrol and Ksh181.13 for Kerosene.
“As a caring Government, we will continue to roll out similar actions so as to provide further direct relief to all Kenyan families and establish the necessary safeguards for protecting Kenyan consumers from further increases in the cost of living,” she added.
The average landed cost of imported Super Petrol increased by 19.04% from US$876.05 per cubic metre in May 2022 to US$1,042.85 per cubic metre in June 2022; Diesel increased by 2.20% from US$997.35 per cubic metre to US$1,019.29 per cubic metre while Kerosene increased by 6.83% from US$905.60 per cubic metre to US$967.42 per cubic metre.
“The applicable pump prices for this cycle have been maintained as the ones applicable in the immediately previous cycle. The Government will utilise the Petroleum Development Levy to cushion consumers from the otherwise high prices,” EPRA added.
The Free Onboard (FOB) price of Murban crude oil lifted in June 2022 was posted at US$ 104.48 per barrel a decrease of 7.11% from US$ 112.48 per barrel in May 2022. Over the same period, the mean monthly US Dollar to Kenya Shilling exchange rate depreciated by 1.41% from KShs. 116.89 per US$ in May 2022 to KShs. 118.53 per US$ in June 2022.
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