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Thursday, September 22, 2022 – Stakeholders in the fuel industry have given Kenyans some hope by revealing when exactly the fuel prices will fall.

Speaking yesterday, Martin Chomba, the Chairman of the Petroleum Outlet Association of Kenya, a key stakeholder in the energy sector, hinted that fuel prices are likely to fall in the next price cycle.

According to Chomba, the Organisation of Petroleum Exporting Countries (OPEC) basket prices will open in late September.

“If you look at this and study the world market of the crude that we consume, prices have started plummeting. We have come from the highs of about 120 dollars barrel to the current 80 something dollars per barrel,” Chomba stated.

He further noted that Kenyans will have to wait until the beginning of the November- December Cycle to begin feeling a sigh of relief in fuel prices due to a decline in pump prices in the global market. 

Currently, Kenyans are confronting the high cost of living, compounded by a spike in pump prices, following a review by the Energy and Petroleum Regulatory Authority (EPRA).

The problem was compounded by the move by President William Ruto to remove fuel subsidies on petrol.

Today, a litre of Super Petrol is going for Ksh179.30 after it increased by Ksh20. Diesel increased by Ksh25 to Ksh165 while Kerosene rose by Ksh20 to Ksh147.94 in Nairobi.

Central Bank of Kenya (CBK) Governor Dr. Patrick Njoroge, during the induction of MPs, projected that fuel prices will drop by December despite President William Ruto ending the subsidy.

He said that the Prices will drop because of the normalcy being experienced in countries that produce oil products.

The Kenyan DAILY POST.

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1 COMMENT

  1. Our FATHER in HEAVEN,
    Hallowed be Your Name,
    Your Kingdom come,
    Your Will be done,
    on earth as in HEAVEN.
    Give us today our daily bread including the urgent reduction is fuel and gas prices to below Ksh 100 per litre and the entire looted our our country taxes and borrowed debts. Forgive our sins and do not allow any human being be offered as sacrifices to the demons by those who’ve given and yoked themselves with the legions of demons: we bind these legions of demons and these yoked demons dependants cast in the bottom pit until their judgement to abyss for their free will sins by their crime.
    May these price of petroleum product go down and punish collectively those goons responsible for the high price increase and turn off their business for good.
    Thanks for the new 5th president and the peace we have had due to your intervention beyond human comprehension.
    Block our nation from the terrorism plans by the terrorist in Somalia. place you Might Angles along our boundary, whom will block any terrorist from passing through our nation.
    Watch over Kenya and destroy all plans of the evil planned by satanic possessed persons.
    Bless Kenya and bring prosperity all over the Republic of Kenya. Let they be enough water, pasture and foods all can afford to buy without any form of stresses and let there be jobs also in JESUS NAME I pray and receive and Glory be to GOD.
    Amen and Amen.

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