Kenya for the first time in 2 years may experience its largest drop in fuel prices

Kenyans should expect some economic relief in the form of lower fuel costs. The East African country will experience its largest margin drop in fuel prices since 2021, with a drop of up to Ksh5 per liter. This is credited to a reduction in global crude prices.

According to The East African news publication, starting Friday, a liter of super petrol will cost Ksh212.36 ($1.39) in Nairobi, up from Ksh217 ($1.42), while diesel will cost Ksh201.47 ($1.31), down from Ksh203.47 ($1.33) in the new monthly cycle, which ends on January 14, next year.

This is contrary to an earlier report done on the 22nd of November, which showed that Kenyans were set to face a new wave of energy inflation with an impending surge in the cost of fuel and electricity via a law to double the levy charged on both products.

“The idea results from the country’s plan to revise its Energy Act of 2019 per the increase of the Energy and Petroleum Regulatory Authority’s (Epra) levy to a maximum of 1 percent from its current 0.5 percent, as proposed by Kenya’s Statute Law (Miscellaneous Amendments) Bill, 2023,” the report reads in part.

Source: BI