NAIROBI, Kenya, Jan 15 – Trade and Industry Cabinet Secretary (CS) Rebecca Miano has said that falling fuel prices will boost the economy.
The CS added that stability in prices offers certainty, stability, and an atmosphere that is conducive to investment.
“The consistent drop in petroleum pump prices on account of commensurate drop in the international prices is beginning to be felt in our country and is just but and indication of the positive outlook for the Kenyan economy in 2024,” Miano said.
“The drop signifies an economic renaissance that brings with it predictability, stability and an enabling environment for Investments, Trade and Industry,” she added.
Only yesterday did the Energy and Petroleum Regulatory Authority (EPRA) cut the prices of super petrol and diesel by Sh5, as well as kerosene by Sh4.82.
In Nairobi, a liter of petrol now costs Sh207.36, diesel Sh196.47, and kerosene Sh194.23.
Prices of fuel slumped after the average landed cost of imported super petrol, diesel, and kerosene fell by 2.4 percent, 9.06 percent, and 4.33 percent per cubic metre in December from November last year, respectively.
