Fuel prices

Fuel Prices Rollercoaster: Drops, Cuts, and Hikes Galore

Get the latest on fuel price changes around the world. From drops in Nepal to hikes in Karnataka, it's a wild ride!

Fuel prices have been a rollercoaster ride recently, with significant shifts in various countries. In Kenya, the Energy and Petroleum Regulatory Authority (EPRA) made a remarkable move by cutting diesel prices by Sh6.08 and super petrol by Sh3 per litre, bringing relief to motorists. Similarly, Nepal Oil Corporation also joined the price-cutting trend, reducing petrol by Rs3 and diesel and kerosene by Re1 per litre.

On the flip side, the situation took a different turn in Karnataka, where the government's decision to hike sales tax on petrol and diesel led to price increases of Rs3 and Rs3.02 respectively. This move sparked demands for a rollback from the BJP, threatening protests to address the mounting fuel costs.

Despite the fluctuations, EPRA in Kenya tapped into the fuel stabilisation fund to ease prices, demonstrating efforts to mitigate the impact on consumers. At the same time, opposition parties raised concerns about the fuel price hike, labeling it as anti-people due to its effects on essential commodities and the common man.

In a contrasting move, NTV Kenya highlighted the easing of super petrol prices through cross-subsidy measures, providing some relief to consumers. The volatile fuel market poses challenges for motorists globally, with tax adjustments and regulatory interventions impacting prices significantly.