Motorists spared hit as regulator puts fuel prices on hold
Kenyans have escape more pain at the pump after the energy regulator left the prices of all three petroleum products unchanged in its July 14 review.
The hold, which is against inflated international crude prices, is attributable to the tapping of the fuel price stabilisation fund despite the lack of regulations to operate the scheme as the government desperately pushes to keep the cost of living muted.
The price of petrol in the Nairobi will therefore remain at Kes 127.14 per litre while that of diesel and kerosene will stand at Kes 107.66 and Kes97.85 until the next review on August 14.
“The average landed cost of imported super petrol increased by 4.83 percent from $496.10 per cubic metre in May 2021 to $520.05 per cubic metre in June 2021; Diesel increased by 3.69 per cent from $461.95 per cubic metre to $479.01 per cubic metre. In the period under review, no kerosene vessel was discharged at the Port of Mombasa,” the regulator, Energy and Petroleum Regulatory Authority said in a statement.
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The oil marketers, however, have taken yet another hair cut in their suppliers’ margins in effecting the hold in prices with margins for petrol coming down to Kes 8.82 from Kes 12.39 in June while margins for diesel and kerosene have shrunk to Kes 5.05 and Kes 6.04 from Kes 8 and Kes 8.93 respectively last month.
In June, crude oil prices increased to levels last seen in 2019 attributable to higher production cuts by the Opec nations.
