Fuel prices in Kenya are set to go unchanged for the first time in five months as the government allocates a further Ksh.16.7 billion to the fuel stabalization mechanism.
In a statement to newsrooms, State House disclosed the government had extended the cover which was set for wind up with the National Treasury previously indicating plans to roll-back the subsidy.
“It is notified that his Excellency the President has today authorized an additional fuel subsidy of Ksh.16.7 billion so as to cushion Kenyans from a further increase in fuel prices. With today’s presidential action, diesel will continue to retail at Ksh.140, petrol at Ksh.159.12 and kerosene at Ksh.127.94,” stated State House Spokersperson Kanze Dena Mararo.
Without the cover, State House says pump prices would have been Ksh.193.64 for diesel, Ksh.209.95 for petrol and Ksh.181.13 for kerosene.
This will be the first time in five months since February that Kenyans see a hold in maximum pump prices by the Energy and Petroleum Regulatory Authority (EPRA).
Over the last five months, fuel prices have jumped by Ksh.5 for super petrol and diesel on March 14, Ksh.9.90 for all three products on April 14, Ksh.5.50 on May 14 and Ksh.9 on June 14.
The price jumps have been against the utilisation of the fuel subsidy to stabalize the cost at the pump.
So far, the government says it has used Ksh.101.9 billion to subsidize petroleum costs since the beginning of the program last year.