The Energy Petroleum Regulatory Authority (EPRA) has adjusted fuel prices for the months of May and June. The adjustment is based on global benchmarks, specifically referencing the trends provided by S&P Global Platts.
The trading of petroleum products in USD and the fluctuating USD-KShs exchange rate further influence these prices, which are crucial for calculating the final retail prices in Kenya.
The purpose of the Petroleum Pricing Regulations is to cap the retail prices of petroleum products which are already in the country so that importation and other prudently incurred costs are recovered while ensuring reasonable prices to consumers.
“EPRA wishes to assure the public of its continued commitment to the observance of fair competition and protection of the interests of both consumers and investors in the energy and petroleum sectors,” EPRA Director General Daniel Kiptoo said.
Many Kenyans have brushed off the KES 1(one) decrease in fuel prices as insignificant while others defended that the move, no matter how insignificant, is welcome.
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