Pain at The Pump Persists as Fuel Prices Drop by Sh1



Diesel prices went down for the fourth month in a row, but just a little bit, only by 1 Shilling per liter. This happened as the weak shilling denied Kenyans the full benefit of declining prices of refined fuel around the world. 


The Energy and Petroleum Regulatory Authority (EPRA) set the price of diesel at ksh.195.47 down from ksh.196.47 while super petrol will now retail at ksh.206.36 down from ksh.207.36 per litre in Nairobi on Wednesday. 


Murban crude prices went down by the biggest margin to $83.32, compared to $91 last month. The weak shilling however denied Kenyans the full benefits of the low prices of fuel as EPRA used an exchange rate of 164.2 units to the dollar, compared to the rate of 158.81 units used in the previous pricing schedule that expired on February 14th. 


The new prices are a little lower than before, but not by much. Super petrol prices have been going down for three months in a row, but they are still higher than 200 Shillings per liter. Kerosene is now 194.23 Shillings per liter in Nairobi, which is also a bit lower. 


A weaker shilling translates to costlier imports as the importing authorities in Kenya pay the Gulf Oil firms in dollars highlighting the impact of the depreciation of the local currency on the local price of fuel. 


Diesel is really important for our country because it's used by many people and businesses, like farmers, transporters, and factories. When diesel prices go down, it can sometimes make things cheaper for everyone. 


The new prices will remain like this until March 14th. EPRA also decided to lower the extra money added to the price of diesel as subsidy to keep it from dropping even more. They've been since last year using super petrol consumers to subsidize people who use diesel. 



But some countries that make oil said that more people will need oil this year, which might make prices go up again soon. So, we might not keep seeing these drops in prices for much longer.



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