The Energy and Petroleum Regulatory Authority (EPRA) has issued a statement that fuel prices will remain steady for the next pricing period, between February 15, 2025, and March 14, 2025. This announcement provides consumers with a fleeting period of stability amid ongoing global instability in oil prices.
According to EPRA’s latest review, the rates of Super Petrol, Diesel, and Kerosene pumps will not change. This action means that motorists, businesses, and households relying on fuel products will not incur additional financial costs from price hikes at least for one month
Prices of fuel are determined by EPRA with the help of various determinants including international crude oil prices, exchange rate fluctuations, and domestic taxation. While international oil prices have seen some volatility in recent months, a combination of lower importation fees and government subsidies would have been able to keep prices afloat. The Kenyan shilling to United States dollar exchange rate also has a material impact on landed fuel prices, which subsequently impacts pump prices domestically.
The news has been greeted with mixed public responses. While the consumers are overall embracing the price stability, others argue that maintaining fuel prices stable at their current levels could be unsustainable in the long run in view of the volatile global oil market.
For businesses, particularly manufacturers, logistics and transport companies, stable fuel prices bring temporary relief from increasing operational costs. However, most are watching closely for future developments, especially in response to geopolitical tensions and supply chain disruption that could influence prices in coming months
Although EPRA has assured that prices will remain unchanged for now, market forces could force adjustments at the next review period. Consumers are advised to monitor fuel price movements, as any significant movement in crude oil prices or currency exchange could impact future pump prices
For now, businesses and drivers can use this stability to plan their costs accordingly. Since market conditions are under observation by EPRA, the next pricing review on March 14, 2025, will determine whether this stability is to be maintained or if alterations will be necessary.
Fuel Prices to Remain Unchanged: EPRA Announces Stability for the Next Month
