You will pay less for fuel over the next one month after the Energy and Petroleum Regulatory Authority has reduced the pump prices by at least Kshs 1.00 after taping the petroleum price stabilisation kitty to lower pump prices. This is after a Kshs 7 per litre increase in the Road Maintenance Levy wiped out gains from lower landed cost of petroleum products and a stronger shilling.
A litre of super petrol reduces by Kshs 1.00, diesel is cheaper by Kshs 1.50 while kerosene decreases by Kshs 1.30.
Pump prices would have been higher, but opted to utilise the petroleum price stabilisation kitty to rationalise.
From the petroleum price stabilisation kitty, EPRA has reduced a litre of super petrol by Kshs 3.35, diesel was lowered by Kshs 2.50 while kerosene benefited from 92 cents per litre.
Overall, the landed cost of super petrol reduced 4.65%, diesel decreased by 1.19% and kerosene increased 2.01%.
In addition, the local currency strengthened from Kshs 132.72 per US dollar to Kshs 129.06 per US dollar.
However, a seven shillings increase in the Road Maintenance Levy from the previous Kshs 18 per litre to Kshs 25 per litre, wiped out the gains, prompting the government to resolve to tap the petroleum price stabilisation kitty.
Here is part of the statement by EPRA:
