On 14th October 2024, EPRA Kenya announced a price change in fuel costs, this time dropping the prices significantly, a move that was gladly welcomed by Kenyans.
The biggest change saw Super Petrol reduce by Ksh8.18 from Ksh188.84 to Ksh180.66. Diesel price was reduced by Ksh3.54, going from Ksh171.6 to Ksh168.06. Kerosene also experienced a drop, going from Ksh158.32 to Ksh151.39.
Fuel is an essential source of energy in the modern world and serves as the lifeblood of economies. People and businesses depend on fuel for their daily lives, production, and trade. Therefore, fluctuations in fuel prices have significant effects on economies.
By this significant fall, the economy is expected to get a breather as the inflation rate is set to go down, since most economic sectors rely on fuel as the main source of energy. Kenyans expect prices of common consumer commodities such as foodstuffs to go down, and significantly lower the cost of living which has left many struggling to sustain their everyday needs.