In a recent update from the Energy and Petroleum Regulatory Authority (EPRA), fuel prices in Kenya have reached a milestone, surpassing the KES 200 mark for the first time. The latest adjustments mean that motorists will now be paying KES 211 for a litre of super petrol, KES 201 for diesel, and KES 202 for kerosene, all inclusive of the 16% Value Added Tax (VAT).
This significant increase in fuel costs is a result of the Kenyan government’s decision to discontinue fuel subsidies, opting instead to let market dynamics dictate pricing. Kenyan citizens have taken to social media platforms to express their concerns about the financial burden these changes bring.
Some are linking this situation to their support for the previous Kenya Kwanza administration led by Ruto. Conversely, there are defenders of the government’s stance, arguing that these price adjustments align with the global trend of rising fuel prices.
Trade and Industry Cabinet Secretary, Moses Kuria, has issued a warning to Kenyans, stating that fuel prices are expected to consistently increase by at least KES 10 per month until February 2024. This would mean Kenyans could be paying up to KES 250 per litre by that time.
To put this in perspective, just three years ago, a litre of petrol cost KES 104, and a few months back, it had surged to KES 196. Now, it stands at KES 211, marking a substantial increase of over KES 100 or more than double the price from three years ago.