Relief At The Pump As Prices of Petrol And Diesel Dip

Motorists have something to smile about in the next 30 days after the Energy and Petroleum Regulatory Authority (EPRA) reduced the price of diesel and petrol.

The price of petrol has been reduced by 2.86 shillings while that of diesel has been cut by 3.28 shillings in prices that became effective Wednesday midnight.

The prices of Kerosene have been increased by 1.98 shillings on every litre in what is likely to see households paying more during the month.

Residents in Nairobi will pay 112.53 shillings for a liter of super petrol with those who consume diesel having to part with 100.60 shillings on every liter.

Interestingly, the price of Kerosene is higher than that of diesel by more than 3 shillings. Residents in Nairobi will buy a liter of kerosene at 103.95 shillings.

According to EPRA, the changes in the prices have been attributed to the average cost of imported super petrol and diesel dropping by 4.6 and 7.1 percent between June and July respectively.

The reduction in the price of diesel is expected to ease pressure on Kenya’s inflation rate which experts were worried it would cross the 7 percent mark at the end of the month of August.

During the month of July, the inflation rate stood at 6.3 percent and economic analysts had projected it closing the month of August between 7 and 7.2 percent.

Diesel is the most used fuel across the value chain. Most manufacturers often use diesel as a source of alternative fuel for powering generators and when the price is up, the cost is passed to the consumer.

In the transport sector, the price of fuel is rarely felt by travelers because public vehicle owners often maintain existence prices despite the dropping of the prices.

The current prices will be in place until the 14th of September when the regulator will be expected to announce new prices.