EPRA (Energy and Petroleum Regulatory Authority) has announced reductions in the pump prices of fuel, boosted by a stronger Kenya Shilling Exchange against the US $.
- •The maximum pump price for Super Petrol dropped by KSh 5.31, Diesel by KSh 10 per litre.
- •Kerosene saw the biggest drop of KSh 18.68 per litre, providing huge relief to the mostly rural Kenyans who depend on Kerosene for lighting and cooking.
- •Kenya imports all its petroleum products in refined form and the products are traded in international markets, based on a pricing benchmark provided by S&P Global Platts.
EPRA figures show that the average landed cost of imported Super petrol increased by 4.86% from US$ 703.49 per cubic metre in February to US$ 737.69 in March while Diesel increased by 0.003% from 722.49 per cubic metre to US$ 722.51. Kerosene decreased by 0.69% from US$ 730.35 per cubic metre to US$ 725.31 per cubic metre in March 2024.
As of March 24th, 2024, the Kenya Shilling was exchanging at 133.54 against the US dollar from 148.02 in February and a high of 164.42 in January 2024. When the forex markets opened today, 15th April 2024, the CBK indicative exchange rate against the US$ stood at KSh 139.44.
Meanwhile, EPRA figures show that the price of Murban crude oil has declined from an all-time high of US$ 93.92 in November 2023 to $ 77.68 in February to a slight increase of US$ 79.06 in March 2024.
