Fuel prices impact nearly everything we do, from driving to heating our homes. When prices rise, it hits our wallets, but knowing why they change can help you plan better. Here’s a straightforward look at today’s fuel prices and what’s behind their shifts.
Fuel prices often change because of global events like oil supply disruptions, new taxes, or shifts in local demand. For example, if oil-producing countries decide to cut production, the price at the pump goes up. Sometimes, government policies or currency swings play a big role too.
When petrol or diesel prices climb, transport costs often rise too. That means the price of goods and services might go up since suppliers pass on extra expenses. It’s not just about filling your car; it touches grocery bills and even public transport fares.
On the flip side, if prices drop, it can give your budget some breathing room. Some drivers adjust their behaviors during high fuel prices—carpooling more, using public transit, or cutting back on unnecessary trips.
Want to ease the impact? Plan your travels efficiently: combine errands, avoid heavy traffic when possible, and keep your car well-maintained for better fuel economy. Tracking local fuel price trends can also help you fill up at the best time.
Fuel prices can feel like a mystery, but understanding the basics makes a difference. Whether prices climb or fall, being aware helps you stay a step ahead and manage your expenses better.
The Energy and Petroleum Regulatory Authority (EPRA) has lowered fuel prices for a one-month period starting May 15, 2024. This adjustment reflects changes in the landed costs of imported fuels. Key cities like Nairobi, Mombasa, Nakuru, Eldoret, and Kisumu will see different new rates for super petrol, diesel, and kerosene.
More