The National Treasury used Sh. 71.1 billion billion in the six months to June 2022 to pay for fuel subsidy. This translated to an average of Sh. 11.86 billion per month that was being paid to oil marketers monthly.
This is according to data from the Energy and Petroleum Regulatory Authority (EPRA).
Following the scrapping of the fuel subsidy on petrol by the new administration, the National Treasury has saved Sh. 9.49 billion. However, the EPRA retained the subsidy for diesel and kerosene. This saw the burden of the fuel subsidy fall from Sh. 14.5 billion to Sh. 5 billion.
“Although the subsidy for super petrol has been removed, a subsidy of Sh. 20.82 and Sh. 20.25 has been retained respectively for diesel and kerosene in order to cushion consumers from the otherwise high prices,” said Epra Director-General Daniel Kiptoo.
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Following the scrapping of the subsidy, Kenyans are now buying petrol at Sh. 179.3 per litre. Diesel is selling at Sh. 165 per litre while kerosene is selling at Sh. 147.9 per litre.
