Kenyans may enjoy subsidised fuel prices until December 2022 should the negotiations between the Ministry of Energy and power producers go as planned.
Addressing the press on Friday, August 5, Energy Cabinet Secretary, Ambassador Monica Juma, explained that her Ministry was already pleased by the negotiations.
She noted that the government was aimed at keeping the price of the crucial products lower by having the subsidy in place.
"I am very pleased with the progress of those negotiations because we are actually receiving proposals on both sides. It is not about directing those negotiations, it is about having conversations about how to reach an optimal point that responds to the objective.
"Our objective is that we deliver low-cost sustainable power. That is the objective that we are tracking here and that is the basis of the negotiations," Juma stated.
For now, the country enjoys subsidised fuel prices where Super Petrol retails at Ksh159.12 per litre, Diesel at Ksh140 per litre and Kerosene at Ksh127.94.
The prices remained unchanged in the July 14 review following President Uhuru Kenyatta’s authorisation of Ksh16.7 billion in fuel subsidy.
Globally, a litre of petrol retails at Ksh209.95 while diesel is valued at Ksh193.64 and Kerosene sells for 181.13 per litre, before the subsidy.
At the same event, the Energy and Petroleum Regulatory Authority (EPRA) Director General, Daniel Kiptoo, noted that the Authority anticipated a price stabilisation of the different classes of fuel globally.
"In terms of the subsidy programme, there was a commitment given by His Excellency the President and the CS that the government will look at continuing to offer a safety net to Kenyans.
"In terms of the global outlook, we are seeing the numbers stabilising but in the next couple of months, that should be able to stabilise completely," Uhuru explained.
The fuel prices have been on a steady increase since February 2022. The costs of super petrol, diesel and kerosene at the time were Ksh129.72, Ksh110.60 and Ksh103.54 respectively and had been set in October 2021.
In March, government increased the cost of fuel per litre by Ksh5 which saw petrol retail at Ksh134.72, diesel at Ksh115.60 and kerosene at Ksh103.54.
