The Energy and Petroleum Regulatory Authority (EPRA) announced on Thursday that fuel prices for Super Petrol, Diesel, and Kerosene will remain unchanged in November.

According to EPRA’s latest fuel review, Super Petrol will continue retailing at Ksh180.66 per liter, Diesel at Ksh168.06, and Kerosene at Ksh151.39. These maximum prices will remain in effect from November 15 through December 14, 2024.

The regulator stated that these prices include the 16% Value Added Tax (VAT) as outlined in the Finance Act 2023 and the Tax Laws (Amendment) Act 2020.

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EPRA Director General Daniel Kiptoo also highlighted some adjustments in the average landed costs of petroleum products. In October, the cost of imported Super Petrol rose by 0.54%, moving from Ksh82,422 (US$637.70) per cubic meter in September to Ksh82,867 (US$641.14). Diesel, however, saw a 4.34% decrease from Ksh82,231 (US$636.22) to Ksh78,662 (US$608.61) per cubic meter. Kerosene costs increased by 3.97%, rising from Ksh80,573 (US$623.39) to Ksh83,773 (US$648.15) per cubic meter.

“Kenya relies entirely on imported, refined petroleum products, which are priced in international markets based on global benchmarks,” EPRA explained. “The prices are set in US Dollars, with an exchange rate applied to determine local pump prices.”

This price stability provides some relief for Kenyans who were bracing for a potential increase in fuel costs due to rising global oil prices and a weakening Kenyan shilling.

The Central Bank of Kenya (CBK) recently reported a rise in global oil prices, which followed the conclusion of the US elections and a reduction in oil inventories amid easing geopolitical risks in the Middle East and Europe. The price of Murban oil, for instance, rose from USD 72.42 on October 31 to USD 74.83 on November 7, 2024.

EPRA’s November review follows a notable fuel price drop in October, attributed to improvements in the local currency and declining global oil prices.