RETAINED

Merry Christmas as fuel prices remain unchanged

In Summary
  • A litre of petrol will continue retailing at Sh129.72 in Nairobi while diesel will cost Sh110.60.
  • Oil futures eased early this week on worries that rising coronavirus cases around the world could reduce crude demand
An attendant fuelling a car.
An attendant fuelling a car.
Image: FILE

Fuel prices will remain the same in this month's review even with rising crude oil costs, owing to a State subsidy that consumers have been enjoying over the last months. 

The prices of super petrol, diesel and kerosene will remain unchanged until January 14 when the next review is due.

A litre of petrol will continue retailing at Sh129.72 in Nairobi while diesel will cost Sh110.60.

Kerosene, mostly used by low-income households for cooking and lighting will cost Sh103.54 at the pump.

In a statement on Tuesday, Epra Director-General Daniel Kiptoo said the government will utilise the Petroleum Development Levy to cushion Kenyans from the otherwise high prices.

EPRA noted that the landed cost of imported Super petrol increased by 3.59 per cent from $606.06 (Sh67,872) to $561.06 (Sh62,899) while that of kerosene jumped by 15.8 per cent to $604.4. 

Oil futures eased early this week on worries that rising coronavirus cases around the world could reduce crude demand as new doubts emerged about the effectiveness of vaccines against the Omicron variant.

Brent futures fell 76 cents, or one per cent, to settle at $74.39 (Sh8,331) a barrel, while U.S. West Texas Intermediate (WTI) crude fell 38 cents, or 0.5 per cent, to settle at $71.29 (Sh7,984).

The Organisation of the Petroleum Exporting Countries (OPEC) raised its world oil demand forecast for the first quarter of 2022 but left its full-year growth prediction steady, saying the Omicron variant would have a mild impact as the world gets used to dealing with the Covid-19 pandemic.