EPRA

Fuel Prices Hold Steady: EPRA Gives Us a Break!

Fuel price blues? Not this month! EPRA retains fuel prices in Nairobi – find out the details and how Kenyans are reacting!

In a remarkably stable move, the Energy and Petroleum Regulatory Authority (EPRA) announced that fuel prices in Nairobi will remain unchanged for the month of August. Super petrol will continue to retail at a price of Sh188.84 per litre, while diesel is pegged at Sh171.60 per litre, and kerosene at Sh161.75. This decision has brought a sigh of relief to motorists, who have been feeling the pinch from rising living costs amid economic uncertainties.

The decision to maintain fuel prices reflects a blend of cautious optimism in the economy and strategic planning from the EPRA. They made the announcement on August 14, stating that although the government recently increased the Road Maintenance Levy (RML) from Ksh18 to Ksh25 per litre, the overall pump prices would remain stable in the face of these changes. For many Kenyans, the stability in fuel prices is seen as a welcome respite during tough economic times when the cost of living is constantly on the rise.

However, the move hasn’t fully quelled the concerns of Kenyans regarding fuel taxes. Many have voiced their dissatisfaction about the increased RML and the controversial 16% VAT on petroleum products, which they believe has been a contributing factor to rising transport and goods prices. Critics have noted that the court has previously declared the VAT on fuel unconstitutional, but the government has yet to act to alleviate the burden on consumers.

While kinks in the fuel taxation system remain a significant issue, the decision to maintain the current fuel prices will likely provide temporary relief to many motorists. This testament to stability could be a strategic decision by the EPRA to ease the overburdened pocketbooks of Kenyans – an action which could also bode well for the economy as a whole.

Fun fact: Did you know that petrol prices in Kenya have undergone significant fluctuations over the years? In the early 2000s, the price for petrol hovered around Sh50 per litre! Meanwhile, diesel was even better at around Sh40!

Also, interestingly, Nairobi's fuel prices can often reflect the overall economic health of the country. Lower fuel costs can lead to reduced transport costs, which in turn can positively affect food prices and day-to-day expenses for many Kenyans. Keeping a close eye on these trends could offer a glimpse into the future economic landscape!