Motorists in Nairobi and across the country are on the edge the Energy and Petroleum Regulation Authority (EPRA), is expected to announce their new prices today for the month from mid April to mid May.
The monthly review will determine the new prices as the pressure following the Iran war is pushing Kenya and the world into set of limited oil imports.
The price have been stagnant since March 15, when EPRA opted to retain their prices despite the rising global oil costs. Super petrol, diesel and kerosene currently retail at Sh178.28, Sh166.54 and Sh152.78, respectively.
According to oil marketers, the prices may likely to increase by Ksh 37 per litre for petrol and Ksh 70 per litre for diesel. However, they have indicated that if the state intervenes by activating the fuel stabilisation fund, the public may not be significantly affected.
Recent reports shows Kenya could face fuel supply constraints, with some retailers experiencing shortages and others accused of storing fuel in anticipation of higher prices.
The announcement will be a key indicator of the country’s economic direction in the coming weeks, particularly as global market uncertainties continue to shape local fuel costs.
This comes after Energy Cabinet Secretary Opiyo Wandayi, stated that consumers may likely to dig deeper into their pockets at the pump as the prices are likely to increase. He made this statement when he appeared before a parliamentary committee on, April 13th.
