The Energy and Petroleum Regulatory Authority (EPRA) now says motorists will have to wait between 30 and 45 days before the recent drop in global oil prices is reflected in local pump prices.

🇰🇪 Breaking It Down

Speaking during an interview, EPRA Petroleum and Gas Director Edward Kinyua said global fuel prices are heavily influenced by geopolitics, citing the recent Middle East crisis that triggered an increase in fuel costs.

According to him, before the crisis, the Free on Board (FOB) cost of super petrol stood at about 686 dollars per tonne, but surged to 1,061 dollars per tonne at the peak of the conflict in April.

Diesel recorded an even sharper increase, rising from 637 dollars per tonne to 1,383 dollars per tonne, while kerosene climbed from 681 dollars per tonne to 1,500 dollars per tonne.

📌 What You Need to Know

"The supply and pricing of fuel is highly dependent on the geopolitical environment. This was one of the worst crises. But I am happy to note that there is a truce and the global oil prices are dropping," Kinyua said.

He noted that although crude oil prices have started falling internationally, consumers should not expect an immediate reduction in pump prices because of the time required to process and transport fuel.

"The international oil prices have dropped, but remember that the barrel has to go into a refining process and then the logistics of ordering, loading, voyage and discharging," he disclosed.

"Between now and when the barrel arrives in Mombasa, it takes between 30 to 45 days. That is why it may not be immediately reflected at the pump because whatever we have now was ordered 30 days before," Kinyua explained.

Kinyua also addressed concerns over the government's recent decision to temporarily relax fuel quality standards, saying the move was necessitated by supply disruptions linked to the Middle East conflict.

He explained that Kenya has progressively lowered the sulphur content in fuel over the years to reduce environmental pollution.

📰 Source: Kenyans.co.ke