ECONOMICS

FUEL PRICES GONE DOWN THIS WEEK

Yesterday, on my way to the park. Passing a filling station, I was surprised to notice that the price of a liter of diesel was at 83/= Kenya shillings and the price of petrol was at 94/= Kenya shillings. This was along ‘Jogoo road’, Nairobi.

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Total meets the expecations of 2 million clients each day in nearly 4 200 Total Service-stations in Africa pic.twitter.com/iLkRVDBAON

— Total Kenya (@totalkenya) July 27, 2015
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The fuel prices had risen due to the weakening shilling in the recent months. The shilling is still trading at 101 KES to the dollar and 156 KES to the pound. This has been attributed to the euro crisis currently being sorted out in the Euro zone.

Considering the the data currently in possession by the Kenya national bureau of statistics has not been updated on their website since 2011, it might be difficult to get the big picture of the influence on 2015 positions and revenue(Loss) generated by the Kenyan government.

Throughput And Output Of Finished Petroleum Products, 2004 – 2012

It was an interest as to how this influenced the exit of Tullow oil company in Turkana. This oil excavation prospects had caused alot of speculation in the oil market in the region.

By Mugambi Mwalishi

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