Motorists and businesses that rely on diesel have received a major boost after the Energy and Petroleum Regulatory Authority (EPRA) announced a sharp reduction in fuel prices, cutting the cost of diesel by KSh10 per litre in the latest monthly review.
In the new prices released on Sunday, June 14, Super Petrol will retail at KSh214.03 per litre in Nairobi after a marginal drop of KSh0.22, while Diesel will now cost KSh222.86 per litre following a significant reduction of KSh10.00. Kerosene remains unchanged at KSh191.38 per litre.
The new prices take effect at midnight and will remain in force for the next 30 days.
The diesel reduction is likely to be welcomed by transporters, manufacturers, farmers and matatu operators who have been grappling with high operating costs in recent months.
The latest review also comes barely weeks after widespread protests by transport operators and sections of motorists over rising fuel prices, particularly diesel, which many argued was pushing up the cost of doing business and contributing to higher prices of goods and services.
During engagements with stakeholders following the protests, President William Ruto acknowledged concerns over the cost of fuel and pledged government intervention to ease the burden on Kenyans.
Sunday’s announcement is therefore likely to be viewed by many as a significant step towards fulfilling that commitment.
Diesel plays a critical role in Kenya’s economy as it powers public transport vehicles, trucks, construction equipment, factories and agricultural machinery.
A reduction in its cost is expected to ease pressure across several sectors and could eventually help lower the cost of transporting goods across the country.
While the reduction in petrol prices was largely symbolic at KSh0.22 per litre, the KSh10 drop in diesel prices stood out as the biggest adjustment in the latest review cycle and is expected to have a wider economic impact.
EPRA said the revised prices include the 16 per cent Value Added Tax in line with provisions of the Finance Act as well as other applicable taxes and levies.
The latest fuel review is expected to reignite debate over the cost of living, with many Kenyans now hoping that lower diesel prices will translate into reduced transport charges and a slowdown in the rising cost of essential commodities.
For thousands of motorists and businesses, however, the immediate focus will be the relief at the pump as the new prices take effect across the country from midnight.
