Petrol Prices Fall Sh7 as Kenya Shilling Strengthens

The Energy and Petroleum Regulatory Authority (Epra) has announced a decrease in fuel prices for the fifth consecutive month, bringing much-needed relief to Kenyan motorists.

This reduction is attributed to a strengthening Kenyan shilling which has rebounded significantly from its all-time low of 160 shillings to the dollar at the beginning of 2024. Epra calculates retail prices based on exchange rates quoted by commercial banks, and the February average of 148 shillings per dollar represents a notable improvement compared to January's 164 shillings. This positive development comes on the heels of President William Ruto's suggestion of a potential decline in fuel prices.

During a speech in Kericho on March 14, President Ruto expressed optimism about the stabilizing economy and the downward trend in fuel costs. He acknowledged the previous economic downturn but emphasized that the situation is improving. The recent strengthening of the shilling is the primary factor contributing to the more affordable fuel prices. President Ruto also hinted at further announcements regarding the ongoing efforts to streamline the fuel sector to ensure continued progress for the country.

Overall, President Ruto is confident in Kenya's economic trajectory. He stresses the importance of responsible fiscal management, advocating for a focus on local resources and revenue generation to drive development and minimize reliance on external borrowing. In Nairobi, the price of a litre of super petrol will decrease by Sh7.21, making it retail at Sh199. Diesel will also see a price drop, decreasing by Sh5.09 to retail at Sh190.38. Kerosene, on the other hand, will now be sold at Sh188.74 per litre, a decrease of Sh4.49.

Moving to Mombasa, the retail price of petrol will be Sh195.97 per litre, while kerosene will be sold at Sh187.21. However, for the next one month, Mombasa residents will be able to purchase kerosene at a price of Sh185.58 per litre. In Kisumu, motorists will have to pay Sh198.97 for a litre of super petrol and Sh190.59 for diesel. The price of kerosene has been capped at Sh188.96 by EPRA. Lastly, in Nakuru and Eldoret, motorists will buy a litre of super petrol for Sh198.21 and Sh198.98 respectively. Diesel in these two urban centres will be priced at Sh189.82 in Nakuru and Sh190.59 in Eldoret.