The Energy and Petroleum Regulatory Authority (EPRA) has released the latest fuel prices, effective October 15 to November 14, 2024. The newly adjusted prices reflect a significant drop across all major petroleum products: super petrol, diesel, and kerosene. This reduction offers welcome relief to households, businesses, and motorists, who have been grappling with elevated fuel costs in recent months.
Below are the maximum retail pump prices for Nairobi, as announced by EPRA:
Revised Fuel Prices for Nairobi (October – November 2024)
- Super Petrol (PMS)
- Previous Price: Ksh 188.84
- New Price: Ksh 180.66
- Price Change: ▼ Ksh 8.18
- Automotive Diesel (AGO)
- Previous Price: Ksh 171.60
- New Price: Ksh 168.06
- Price Change: ▼ Ksh 3.54
- Kerosene (IK)
- Previous Price: Ksh 158.32
- New Price: Ksh 151.39
- Price Change: ▼ Ksh 6.93
Maximum Pump Prices Across Kenyan Towns (15th October 2024 – 14th November 2024)
| Town | Super Petrol (KShs/L) | Automotive Diesel (KShs/L) | Kerosene (KShs/L) |
|---|---|---|---|
| Mombasa | 177.42 | 164.82 | 148.15 |
| Kilifi | 178.19 | 165.59 | 148.92 |
| Likoni Mainland | 177.80 | 165.21 | 148.54 |
| Kwale | 177.80 | 165.21 | 148.54 |
| Malindi | 178.41 | 165.81 | 149.14 |
| Voi | 179.01 | 166.41 | 149.73 |
| Nairobi | 180.66 | 168.06 | 151.39 |
| Nakuru | 182.41 | 169.64 | 153.14 |
| Nyeri | 182.13 | 169.53 | 152.99 |
| Thika | 180.66 | 168.07 | 151.39 |
| Eldoret | 183.78 | 171.18 | 154.50 |
| Garissa | 185.14 | 172.54 | 155.87 |
| Meru | 183.99 | 171.39 | 154.71 |
| Isiolo | 183.83 | 171.24 | 154.56 |
| Mandera | 194.66 | 182.07 | 165.39 |
| Moyale | 190.79 | 177.28 | 161.52 |
| Lamu | 180.97 | 168.37 | 151.69 |
| Kisumu | 184.46 | 171.74 | 155.11 |
| Kisii | 185.41 | 172.71 | 155.98 |
| Wajir | 190.61 | 178.01 | 161.33 |
Impact of the New Fuel Prices
The reduction in fuel prices comes at a crucial time, with many Kenyans facing rising costs of living due to high inflation. The drop in prices across petrol, diesel, and kerosene is likely to have a positive ripple effect on various sectors of the economy.
- Super Petrol: Widely used in private vehicles and public transportation, the reduced price is expected to lower commuting costs for motorists and matatu operators.
- Diesel: As the primary fuel for trucks, buses, and industrial equipment, the drop in diesel prices will help reduce transportation and production costs, potentially leading to price relief for consumer goods.
- Kerosene: The decrease in kerosene prices will benefit low-income households that rely on it for cooking and lighting, especially in rural areas.
Key Factors Behind the Price Adjustments
The reduction in fuel prices reflects changes in global crude oil prices and adjustments to taxation policies by the government. Recent fluctuations in the international oil market, coupled with interventions by the Kenyan government to stabilize local prices, have contributed to the downward trend.
Moreover, EPRA continues to regulate fuel prices monthly to ensure fairness and prevent exploitation of consumers, following a structured pricing formula that factors in international oil prices, exchange rates, and importation costs.
Effect on the Economy
The transport and logistics industry—which heavily relies on diesel—will be among the biggest beneficiaries of the revised prices. A reduction in diesel prices often leads to lower transport costs, which could stabilize or reduce prices of goods and services. Additionally, manufacturers who depend on diesel-powered equipment may also experience reduced operational costs.
The decline in kerosene prices will provide much-needed relief to households that depend on it, particularly in areas without access to electricity or alternative fuels.
Next Review by EPRA
EPRA adjusts petroleum prices monthly, with the next review expected on November 14, 2024. Consumers and businesses alike are advised to monitor these changes closely, as fluctuations in global oil prices and local policy decisions could affect future prices.
The October 2024 fuel price review by EPRA provides a welcome respite to Kenyans across different sectors. The reductions in super petrol, diesel, and kerosene prices are expected to ease inflationary pressures and improve the economic outlook as the country enters the final quarter of the year.
Businesses, households, and motorists can now plan their budgets more effectively, hoping for stability or further reductions in the coming months.
FAQs
1. How often does EPRA review fuel prices?
EPRA reviews prices on a monthly basis, with adjustments typically announced on the 15th of every month.
2. What influences fuel price changes in Kenya?
Fuel prices are influenced by factors such as global crude oil prices, currency exchange rates, import costs, and taxation policies.
3. Where can I find the updated prices for other regions?
EPRA publishes detailed prices for all major towns in Kenya on its website and official social media platforms.
