Kenya’s fuel prices highest in East Africa, latest figures show
Analysis shows that a litre of petrol goes for Sh171 in Uganda, and Sh153.34 in Rwanda while it is the cheapest in Tanzania at Sh141.89.
Kenya continues to lead its East African peers in terms of the cost of fuel, with the latest figures putting the country as the most expensive in the region despite maintaining the same pump prices in the latest review in November.
The Energy and Petroleum Regulatory Authority (EPRA) announced on Thursday that fuel prices for super petrol, diesel, and kerosene will retail at Sh180.66, Sh168.06, and Sh151.39 per litre, respectively, in Nairobi.
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The calculated maximum retail prices of the petroleum products would be in force for the next 30 days, from November 14, 2024 to December 14, 2024.
Analysis shows that a litre of petrol goes for Sh171 in Uganda, and Sh153.34 in Rwanda while it is the cheapest in Tanzania at Sh141.89.
On the other hand, the price of a litre of diesel is most expensive in Kenya at Sh168.06, followed by Uganda at Sh164.21, Sh155.50 in Rwanda and Sh137.12 in Tanzania.
However, in October, Kenya saw its pump prices fall by the largest margin in 19 months, with super petrol, diesel and kerosene dropping by Sh8.18, Sh3.54, and Sh6.93, respectively.
Meanwhile, Uganda reported its lowest fuel prices in six months, according to the Uganda National Oil Company (UNOC), benefiting from a global decline in oil prices.
The Ugandan government, however, is looking to reduce its reliance on external factors by advancing plans to build its own oil refinery.
Tanzania, on the other hand, boasts the cheapest fuel prices in the region, with the country's regulatory authority attributing the low costs to global oil price reductions, as well as fluctuations in importation costs and exchange rates.
Similarly, Rwanda's fuel prices have been shaped by the same global trends, as noted by the Rwanda Utilities Regulatory Authority (RURA).
Globally, oil prices have fallen in the recent past, mainly due to reduced demand from China, the largest oil importer.
The latest weekly bulletin by the Central Bank of Kenya (CBK) shows international oil prices declined during the week ending November 14, amid weak demand in China and concerns of potential oversupply.
"The price of Murban oil declined to $73.37 (Sh9,500) on November 14, 2024, compared to $75.66 (Sh9,800) on November 7, 2024," the weekly bulletin reads.
Murban oil price is used as the benchmark for pricing crude oil in Europe, Africa and the Middle East.
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