FUEL PRICES UNCHANGED FOR THE MONTH OF AUGUST

The government has opted to stabilize pump prices for the August-September 2023 pricing cycle in order to cushion consumers from the spike in fuel prices as a consequence of the increased landed costs.

 In a statement, the Energy and Petroleum Regulatory Authority (EPRA) Director General Daniel Kiptoo said that EPRA will use the Petroleum Development Fund (PDF) to compensate oil marketers for 7.33 shilling for super, 3.59 shillings for diesel, and 5.74 shillings for kerosene.

Without the compensation, a liter of petrol would have increased to 202.10 shillings today from 194.68 shillings. Diesel would have gone up to 183.26 shillings and 175.22 shillings for kerosene.

The last time the government subsidized fuel prices was a year ago during the August-September 2022 fuel evaluation.

President William Ruto removed the subsidies shortly after taking office on September 13 and has ruled out their reintroduction, deeming them counterproductive.