Diesel down Sh10 to Sh222.86 as EPRA announces June-July prices

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NAIROBI, Kenya, Jun 14 — Diesel prices will drop by Sh10 per litre to Sh222.86 in Nairobi from midnight, while Super Petrol will retail at Sh214.03 after a marginal reduction of 22 cents, in newly announced pump prices under the June-July cycle.The Energy and Petroleum Regulatory Authority (EPRA) announced the revised prices on Sunday, with kerosene remaining unchanged at Sh191.38 per litre for the period between June 15 and July 14.The diesel reduction follows the government’s decision to draw approximately Sh10 billion from the Petroleum Development Levy (PDL) Fund to stabilize fuel prices and shield consumers from rising global oil costs.President William Ruto had pledged to reduce diesel prices by a further Sh10 per litre was made on May 22 following negotiations with transport stakeholders, which helped avert a threatened nationwide strike that had been suspended after a two-day shutdown that disrupted parts of the economy.In its monthly review, EPRA said maximum pump prices for Super Petrol and Diesel had decreased by Sh0.22 and Sh10.00 per litre respectively, while kerosene remained unchanged.“The Government will in this cycle cushion consumers through the Petroleum Development Levy Fund by utilizing approximately Sh10 billion to subsidize the prices of Diesel and Kerosene,” EPRA said.Soaring costs The diesel price cut is expected to offer relief to transport operators, manufacturers, and businesses reliant on diesel, potentially easing pressure on the cost of goods and services across the economy.EPRA further noted that the average landed cost of imported Super Petrol declined by 0.56 percent to US$901.16 per cubic metre during the review period.However, the average landed cost of Diesel rose slightly by 0.21 per cent to US$1,294.71 per cubic metre, while Kerosene declined by 0.33 per cent to US$1,328.36 per cubic metre.Kenya imports all petroleum products in refined form, leaving domestic fuel prices highly exposed to international oil market movements and exchange rate fluctuations between the Kenya shilling and the US dollar.EPRA said the petroleum pricing framework is designed to recover legitimate importation and distribution costs while shielding consumers from excessive price volatility.The latest review is expected to be welcomed by the transport sector and businesses that have been grappling with elevated fuel costs, although private motorists are likely to see minimal relief from the modest petrol adjustment.