Kenyans Question Significance of G2G Fuel Import as EPRA Cuts Petrol, Diesel Prices By KSh 5

 

Kenyans have poked holes into the existing government-to-government oil import credit deal. A petrol attendant fuelling a car. This followed the Energy and Petroleum (EPRA) pump price review for January 15 to February 14, 2024. What are the new pump prices?  EPRA reduced pump prices for a litre of petrol and diesel by KSh 5 to retail at KSh 207.36 and KSh 196.47, respectively. Kerosene, commonly used as cooking fuel for low-income households, dropped by KSh 4.82 to retail at KSh 194.23 per litre. EPRA attributed this to a reduction in the landing of petroleum products between November and December 2023. What Kenyans said about reduced fuel prices However, the revised pump prices raised concerns among Kenyans, with the majority saying the reduction is not beneficial to Kenyans. @Erick_M_N said: "Globally fuel prices are declining at a much faster rate. G2G has failed, return the OTS." @SirAlexKimutai argued: "Mngeangusha na 50 bob, fare ya nduthi na mat bado iko pale pale." @Mohamedida explained: "Whilst the change in pump prices is a relief, the new prices don't still reflect the global trend or even the change in landed cost that EPRA communicated." @J_Njogu noted: "Impactful pump prices drop will be witnessed when the shilling reverses some of the ground lost to the dollar." @Seyatra888 decried: "Inashuka na 5 Bob inapanda na 16 Bob." @Keylvinne wondered: "You are not meeting expectations on tax and consumption of fuel huh? @JoeKams4 said: "Nothing to celebrate..." @samy_ambuka asked: "Increasing rates are way higher than decreasing rates,yet the electric power has been constantly on the rise courtesy of @kplc, who's fooling who? What you should know about G2G, global fuel prices Kenya inked a deal with Gulf firms to import fuel on credit for six months to ease the pressure on the weakening shilling The country extended the government-to-government deal with Saudi Aramco, Emirates, and Abu Dhabi oil companies. In December 2023, Kenyans dared EPRA to increase fuel prices as global prices of petroleum products reported declined to a five-month low of KSh 10,500 per barrel. 

by  Wycliffe Musalia