Fuel prices Archives | The East African Business Times

Fuel prices will remain unchanged for the next one month after President Uhuru Kenyatta’s intervention that allowed the release of Sh16.68 billion for the subsidy program.

EPRA confirmed that the government had released Sh16.675 billion subsidy to further cushion Kenyans from the high fuel prices.

That means that a litre of petrol in Nairobi will continue retailing at Sh159.12, diesel Sh140.00 and kerosene Sh127.94.

“Without such State interventions, the pump prices would have been Sh193.64 for diesel, Sh209.95 for petrol and Sh181.13 for kerosene,” State House Spokesperson Kanze Dena-Mararo said in a statement on Thursday.

“It is notified that His Excellency the President has today authorized an additional fuel subsidy of Ksh16.675 billion, so as to cushion Kenyans from a further increase in fuel prices,” read the state House statement in part.

The President stated that his administration was humane and had to do everything possible to cushion Kenyans from the high cost of living.

“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,” added Uhuru

The fuel prices have been on a steady increase since February 2022. The costs of super petrol, diesel and kerosene at the time were Ksh129.72, Ksh110.60 and Ksh103.54 respectively and had been set in October 2021.

Last month, EPRA announced the highest hike in fuel prices to be experienced in the country by Sh9 per litre and was scheduled to announce the revised prices today.

Uber Kenya has announced a review on its fare prices in the next two weeks, in response to rising fuel prices in Kenya.

This is after Energy and Petroleum Regulatory Authority (EPRA) announced a Ksh.9 price per litre increase for diesel, kerosene and super petrol on June 14th 2022.

Uber head of East Africa Imran Manji said the company is working on a price review to factor in the recent fuel rise and find a “sweet spot between not destroying demand by pricing and ensuring that drivers cover their costs.”

“It’s a difficult situation in the market right now because as the cost of living of everybody goes up, the affordability of things like ride-hailing comes into question. If we raise our prices too high we are limiting how many people are going to be using our services and also limiting the driver of earnings,” said Manji as quoted by Business Daily.

EPRA’s latest announcement came as a fuel shock to Kenyans who are already grappling with a higher cost of living in the country.

Uber’s review is set to ensure its drivers are able to earn and sustain themselves even with the high prices currently being experienced within the country.

Digital taxi drivers from Uber and Bolt have in the past complained about high fuel prices eating into their earnings, forcing them to unearth other sources of income in order to sustain themselves.

This will be Uber’s second review after another was made in February when fuel prices went up by Ksh.5 per litre.

Fuel prices

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