It is now a relief to Kenyans after the Energy and Petroleum Regulatory Authority (EPRA) announced that fuel prices will remain the same for the next month.
This comes at a time when the government has increased the fuel subsidy by 16 billion shillings.
Most Kenyans will continue feeling the weight of the increased cost of living after the energy and petroleum regulatory authority EPRA announced that the pump prices for the commodity will remain unchanged over the July-August period.
This is contrary to the expectations of many Kenyans who hoped that the pump prices which are at a 27-month high will come down and help ease the burden of the cost of living
This means that super petrol will retain its price of Ksh159.12 per litre, kerosene at Ksh127.9 per litre and diesel will retain its Ksh140.00 per litre
This is despite President Uhuru Kenyatta authorising a 16.7 billion Kenyan shillings injection from the petroleum development levy to cushion Kenyans from the prices that would have been an all-time high
The subsidy numbers have also risen to an all-time high and even doubled in the price of fuel were it not for the intervention, petrol would have risen to Ksh209.95 per litre, kerosene Ksh181.13 per litre and diesel will retain its Ksh193.64 per litre
This is despite the government’s plan to gradually scrap off the subsidy on the price of fuel
The decision to keep prices unchanged has given Kenyans relief at a time inflation has hit a 58-month high and an increase in pump prices would have further made basic goods costlier.
The rising costs since last year caught the attention of the government which has been under pressure to contain public outrage despite the depletion of the kitty used to subside pump prices.
An increase in pump prices would have piled more pressure on households and motorists, given that diesel is a key determinant of the basket of goods and services used to measure inflation.