President William Ruto on Thursday, March 14, told Kenyans to expect low fuel prices as the Energy Petroleum Regulatory Authority (EPRA) prepares to announce the new fuel prices anytime today.
Speaking during the commissioning of the Kapsuser-Sosiot Road in Belgut, Kericho County, Ruto assured Kenyans that he had tamed volatility in the sector.
The Head of State who was speaking moments before opening the Kericho Passport Centre remarked that this was one of his ways to transform the country.
‘I want to tell you that even fuel prices will go down so relax,” he told gathered residents after promising them better job opportunities.
“Today is March 14 and we will get new low fuel prices,” EPRA announces new fuel prices every 14th day of the month.
Ruto remarked that he had earlier promised Kenyans that his administration would work on a framework for lowering fuel prices and that had since been achieved.
On February 14, EPRA reduced the prices of Petrol, Diesel and Kerosene by Ksh1 each.
Currently, Petrol, Diesel and Kerosene retail at Ksh206.36, Ksh195.47 and Ksh193.23 respectively in Nairobi.
Ruto had in the past told Kenyans that his administration was not responsible for determining fuel prices and as such could not be blamed or praised when the commodity recorded a price increase or decrease.
"I am not in any way responsible for the drop and increase of oil prices, there are other parties including oil producers who took the decision to reduce the prices,” he stated in December 2023.
Kenya was previously engaged in a government-to-government oil deal with Abu Dhabi, Saudi Arabia and United Arab Emirates-based oil companies.
In the deal, Kenya bought the fuel on a 180-day credit line as a measure to stabilise the local currency by reducing the demand for dollars.
The deal has since been halted with Treasury admitting that it did not achieve its intended purpose.
