Azimio la Umoja leader Raila Odinga has called on the Energy and Petroleum Regulatory Authority (EPRA) to reduce fuel prices in the next review.
Speaking on Saturday, December 9, during the homecoming ceremony of Kajiado East MP Kakuta Maimai in Merrueshi, Kajiado County, the former Prime Minister said the price of petroleum products has dropped in the international market and the government should reduce fuel prices by between Sh45 and Sh 50 a liter.
“We have information that the price of oil in the global market has dropped. They are required to reduce the price of fuel by forty-five or fifty shillings per liter this month, not just five or ten shillings alone, since the price of petroleum products has reached the lowest in the global market,” said Raila.
Oil prices fell by nearly 4 percent on Wednesday, last week, to their lowest settlements since June. Brent crude futures settled down $2.90, or 3.8 percent, at $74.30 a barrel.
The drop in fuel prices was attributed to the lifting of some restrictions which were early imposed by the oil producing countries which included the cutting down of exports.
EPRA in the last review on November 14 reduced the Diesel and Kerosene prices by Sh 2 while the price of petrol remained unchanged.
Super Petrol, Diesel, and Kerosene are currently retailing at Kshs.217.36, 203.47 and 203.06 respectively in Nairobi County.
On November 18 President William Ruto told Kenyans that fuel prices are set to drop in December.
“We have looked at ways to ensure that the prices don't exceed a limit where many Kenyans will hurt. You have seen that this month the prices have started to decrease, next month it will go down even further,” he stated.
New prices are expected to be announced by the regulatory agency on December 14 which will run till January 2024.