The Energy & Petroleum Regulatory Authority (EPRA) has announced that petrol prices in Kenya will remain unchanged between February 15, 2025, and March 14, 2025. This decision comes despite the increased landed cost of imported petroleum products.
Petrol Prices Remain Steady Amid Global Cost Hikes
In its latest pricing review, EPRA has maintained the maximum pump prices for Super Petrol, Diesel, and Kerosene. The stability is in line with the provisions of the Petroleum Act 2019 and other tax regulations, including the Finance Act 2023 and the Tax Laws (Amendment) Act 2024.
While local prices remain the same, the global cost of petroleum products has risen. The average landed cost of imported Super Petrol increased by 2.80%, reaching $628.80 per cubic meter in January 2025, up from $611.69 in December 2024. Similarly, Diesel prices rose by 4.20% to $671.14 per cubic meter, and Kerosene saw a 4.89% increase, hitting $681.44 per cubic meter.
Impact of Petrol Prices on Consumers
Even though petrol prices at the pump are stable, the rising landed costs highlight potential economic pressures. Price hikes won’t hit Kenyan consumers immediately, but rising import costs may force future adjustments. The decision to keep prices unchanged provides temporary relief for businesses and households.
Petrol Prices and the International Market Trends
Kenya relies entirely on imported petroleum products, subject to international market fluctuations. Global oil prices and foreign exchange rates play a significant role in determining local pump prices. The exchange rate of the US dollar against the Kenyan shilling has remained relatively stable over the past months, which has helped mitigate significant price increases.
Future Outlook on Petrol Prices
While petrol prices remain unchanged, future pricing will depend on global oil trends and exchange rate movements. EPRA continues to regulate the market to ensure fair pricing for consumers and investors. If global costs continue to rise, there may be adjustments in the coming months.
Consumers should stay informed about future fuel price reviews as Kenya navigates the complexities of international oil markets and local economic policies.